Trump says steps have to be made on auto, steel trade with South Korea

Pushing for a renegotiation of the Korea-US Free Trade Agreement, US President Donald Trump on Friday made clear that he wants a more reciprocal deal, particularly in auto and steel trade.

“South Korean companies sell cars in America. American companies should have that same exact privilege,” Trump said in a joint press briefing, following his bilateral summit with South Korean President Moon Jae-in held at the White House. 

On steel, the US leader took an even stronger tone, saying that he called on South Korea to stop “enabling the export of dumped steel.“

“These would be important steps forward in our trading relationship. Very important steps. They have to be made,“ he said.
 

South Korea and the US have had a free trade agreement in effect since 2012. The US president, however, described it as ”not exactly a great deal,“ pointing to the $11 billion trade deficit which the US has faced since then.

“I am encouraged by President Moon‘s assurances that he will work to create a level playing field so that American workers and businesses, and especially automakers, can have a fair shake at dealing with South Korea,“ Trump said.

“Our team are going to get to work on these issues. And they‘re going to sign a deal that’s great to South Korea and great to the US.”

By Bae Hyun-jung (tellme@heraldcorp.com)