President Trump Announces New US-SKorea Free Trade Agreement
Monday, US President Donald Trump announced a new free trade agreement between the United States and South Korea that he said will be mutually beneficial.
Trump and South Korean President Moon Jae-in met at the United Nations, where many world leaders are gathering this week for the General Assembly.
“We’ve had terrific talks on trade, and we’ll be signing in a little while a very important trade agreement with South Korea and the United States. And I think it is a very exciting event,” President Trump said.
Presidents Trump and Moon later made the announcement at the United Nations and held a signing ceremony.
“It was long time in coming and it is a basic redoing of the agreement that was done before, which was a very unfair agreement for the United States. I think that President Moon and myself are very happy. It is great for SKorea, it is great for the United States, it is great for both.”
The Trump Administration has been working to renegotiate many of America’s trade deals to make them more fair. The deal with SKorea is more complicated because of NKorea, which is in the midst of negotiations with the U.S. and South Korea over the dismantling of its nuclear program.
President Trump indicated earlier this year that he was considering a plan to pull all 32,000 US troops from SKorea, which would leave that country vulnerable to a NKorean attack.
President Trump is a popular figure in SKorea, including making the covers of newspapers. But, there are protesters who claim he is a warmonger and that perception could spread as many suspect he does not have the ability to resolve the nuclear issues with NKorea.
Former President Barack Hussein Obama was a popular figure too, but his theory of “strategic patience” for Pyongyang was seen by many as “strategic indifference,” so President Trump’s bold assertiveness was welcomed.
“Trump was one who took initiative,” said Dr. Kim Hyun-wook, a professor with the Korea National Diplomatic Academy. “He believes in his ability.”
Latest posts by HEFFX Australia (see all)
- Ping An Insurance (2318.HK) Buy On Dips - August 11, 2020
- Hong Kong Exchanges and Clearing (0388.HK) HEFFX Outlook - August 11, 2020
- China Education Group (0839.HK) Technicals And Outlook - August 11, 2020