President Trump threatened to terminate the U.S. trade agreement with South Korea in an interview Thursday night, declaring that the five-year-old accord with a key ally was “a horrible deal” that has left America “destroyed.”
During an Oval Office interview about trade policy in North America, Trump served notice that he is looking to disrupt an important partnership in the tumultuous Asia-Pacific region as well — even with Seoul on edge because of North Korea’s escalating military provocations.
Trump sharply criticized the U.S.-Korea Free Trade Agreement, known as Korus, the latest version of which was ratified in 2011.
“It’s a horrible deal. It was a Hillary Clinton disaster, a deal that should’ve never been made,” Trump said, referring to the then-secretary of state who became the 2016 Democratic presidential nominee. “It’s a one-way street.”
South Korea is the United States’ sixth-largest goods trade partner, and the U.S. goods trade deficit with Korea was $27.7 billion last year, according to the Office of the U.S. Trade Representative.
Next week marks an anniversary for Korus and triggers a review period to potentially renegotiate or ratify a new version of the agreement.
“We’ve told them that we’ll either terminate or negotiate,” Trump said. “We may terminate.”
You can read the rest at the Washington Post.