Later On

A blog written for those whose interests more or less match mine.

Trump is an ignorant bull in the china shop of international relations: Trump preparing withdrawal from South Korea trade deal

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Damian Paletta reports in the Washington Post:

President Trump has instructed advisers to prepare a withdrawal from the United States’ free-trade agreement with South Korea, several people close to the process said, a move that would stoke economic tensions with the U.S. ally at a time both countries confront a crisis over North Korea’s nuclear weapons program.

While it is still possible Trump could decide to stay in the agreement in order to renegotiate its terms, the internal preparations for terminating the deal are far along and the formal withdrawal process could begin as soon as this coming week, said the people, who spoke on condition of anonymity.

A number of senior White House officials are trying to prevent Trump from withdrawing from the agreement, including national security adviser H.R. McMaster, Defense Secretary Jim Mattis, and National Economic Council Director Gary Cohn, these people said.

A White House spokeswoman said “discussions are ongoing, but we have no announcements at this time.”

One reason top White House advisers are trying to stop Trump from withdrawing from the South Korea free trade agreement is because they do not want to isolate the government in Seoul at a time when North Korea has become increasingly adversarial with its missile program, testing nuclear weapons and firing missiles over Japan in a way that has alarmed the international community.

If Trump withdraws from the agreement, he could try to force South Korea to import more U.S. products with little to no import restrictions, something he believes will help U.S. companies and workers. South Korea could also decide to refuse any discussions with Trump, kicking off a trade war between the countries.

The trade agreement was signed in 2007 and went into effect in 2012. . .

Continue reading.

Written by Leisureguy

2 September 2017 at 11:12 am

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