President Donald Trump on Thursday said he may delay finalization of a deal in principle to modify the U.S.-Korea Free Trade Agreement (KORUS), because the issue is “a very strong card” to ensure solid alignment between Washington and Seoul in pushing for concessions from North Korea.
Trump and North Korean leader Kim Jong Un have agreed to a meeting sometime in May to discuss issues of interest. Trump is expected to push for a commitment from Kim to rid his country from nuclear weapons.
“I want to make sure everyone is treated fairly and we're moving along very nicely with North Korea,” Trump said during a speech in Richfield, Ohio, focusing on infrastructure.
According to a transcript of the speech, Trump later added, “South Korea has been wonderful, but we'll probably hold that deal up for a little while. See how it all plays out.”
South Korea's Ministry of Trade, Industry, and Energy and the Office of the U.S. Trade Representative this week both announced the conclusion in principle of a modified KORUS, after officials from both countries had been negotiating amendments since July.
The deal reached in principle includes an extension of the scheduled expiration of the U.S.'s 25 percent tariff on pickup trucks from 2021 until 2041, and commitments by the U.S. related to due process in trade remedy proceedings.