BUSINESS

Trumps touts revised trade deal with S. Korea

By Yonhap
  • Published : Jun 29, 2018 - 09:43
  • Updated : Jun 29, 2018 - 09:49

WASHINGTON -- US President Donald Trump took credit Thursday for turning the US free trade agreement with South Korea into a "wonderful deal" for both countries.

Trump was referring to a revision the two sides made to the Korea-US trade deal in March, which calls for further opening South Korea's auto market to the United States.

"We've renegotiated the deal, and subject to signing -- I always say subject to signing because lots of things happen ... But we made a new deal with South Korea. Wonderful deal for both," he said at a groundbreaking ceremony in Wisconsin. "And our farmers now are protected. And our tariff -- which has been paid for years, which was expiring -- has now been extended for a long period of time, on trucks."
 

US President Donald Trump (AFP)

He slammed the original agreement, which went into effect in 2012, as a "terrible" deal that was supposed to create 250,000 jobs for the US but ended up giving those jobs to South Korea.

Trump earlier threatened to "hold up" the renegotiated agreement until after he reaches a deal with North Korea on its nuclear weapons program.

This month he met with North Korean leader Kim Jong-un in Singapore and the two sides signed a joint statement calling for the "complete denuclearization" of the Korean Peninsula in exchange for security guarantees from the United States. (Yonhap)





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