Two days after launching a trade war with Canada by imposing tariffs on lumber imports, one day after nearly terminating NAFTA (but stopping just shy after an alleged phone call from the leaders of Mexico and Canada), Trump has finally turned his attention to the one nation whose GDP consists of roughly 60% net trade, and which we said several months ago, is far more likely to be punished for trade malpractice than China: South Korea.
Speaking to Reuters and WaPo, Trump - who earlier also told Reuters that a "major, major" conflict with North Korea is possible - Trump sharply criticized the U.S.-Korea Free Trade Agreement, known as Korus, the latest version of which was ratified in 2011 and said that he will "renegotiate or terminate" the "horrible" free trade deal. Next week marks an anniversary for Korus and triggers a review period to potentially renegotiate or ratify a new version of the agreement. “It’s a horrible deal. It was a Hillary Clinton disaster, a deal that should’ve never been made,” Trump said. “It’s a one-way street.” “We’ve told them that we’ll either terminate or negotiate,” Trump said. “We may terminate.” Trump added: “I will do that unless we make a fair deal. We’re getting destroyed in Korea.”
Trump is on a roll this week with trade deals, trying to make free trade actually free trade...Which Trump trade war deals will likely save the American tax payer billions of dollars if terminated or renegotiated. Wonder if our Defense budget has anything to do with this, since we do basically protect South Korea, and have gained nothing back from it except for maybe K-Pop. If Trump cuts the trade deal with South Korea, then it would likely save us billions...Because this would mean we would likely no longer defend South Korea.
If you thought President Trump's America First agenda was small in proportion, well think again because President Trump is going after every trade deal with foreign nations that have wasted billions of taxpayer dollars and stolen scores of jobs from the American people. Personally I thought Trump cutting 2\3 of USAID at the State Department was a big deal, but Trump is literally trying to end all trade deals in Washington that will save us billions of dollars and have nothing to do with free trade...Because America has only gotten screwed on all these deals when we give so much but receive little in return.
Speaking to Reuters and WaPo, Trump - who earlier also told Reuters that a "major, major" conflict with North Korea is possible - Trump sharply criticized the U.S.-Korea Free Trade Agreement, known as Korus, the latest version of which was ratified in 2011 and said that he will "renegotiate or terminate" the "horrible" free trade deal. Next week marks an anniversary for Korus and triggers a review period to potentially renegotiate or ratify a new version of the agreement. “It’s a horrible deal. It was a Hillary Clinton disaster, a deal that should’ve never been made,” Trump said. “It’s a one-way street.” “We’ve told them that we’ll either terminate or negotiate,” Trump said. “We may terminate.” Trump added: “I will do that unless we make a fair deal. We’re getting destroyed in Korea.”
Trump is on a roll this week with trade deals, trying to make free trade actually free trade...Which Trump trade war deals will likely save the American tax payer billions of dollars if terminated or renegotiated. Wonder if our Defense budget has anything to do with this, since we do basically protect South Korea, and have gained nothing back from it except for maybe K-Pop. If Trump cuts the trade deal with South Korea, then it would likely save us billions...Because this would mean we would likely no longer defend South Korea.
If you thought President Trump's America First agenda was small in proportion, well think again because President Trump is going after every trade deal with foreign nations that have wasted billions of taxpayer dollars and stolen scores of jobs from the American people. Personally I thought Trump cutting 2\3 of USAID at the State Department was a big deal, but Trump is literally trying to end all trade deals in Washington that will save us billions of dollars and have nothing to do with free trade...Because America has only gotten screwed on all these deals when we give so much but receive little in return.
