PetersonBrown Group - President Moon set to meet Trump

President Moon set to meet Trump

Kane Davis Cooper ̶   U.S. President Donald Trump will push South Korean President Moon Jae-in to do more to address trade inequities with the US when the two leaders meet at the White House on the end of this week according to White House officials.

The main theme of the discussions will concentrate on ways to force North Korea to end its nuclear weapons agenda. The Korean President did not mention Trumps trade issues when he gave a speech at U.S. Chamber of Commerce, instead focusing on improving the overall level of trade between the two countries.

A couple of months ago, the US President called the existing US-South Korean trade deal (KORUS) “horrible” and “unacceptable” and said he would either rework or axe it.

According to White House officials, the US President will bring up his worries over limited access to South Korea by US car makers and the volume of Chinese steel imports that arrive in the United States via South Korea. The talks are predicted to be open and friendly said officials.

Moon said that despite world trade falling by more than 10% over the last 5 years trade between South Korea and the US had, in fact, increased by a similar amount.

This is Moon Jae-in’s first international visit since becoming President in May and he has said that he looked forward to having the chance to reassert cooperation with the US and raise economic bonds “to the next level.”

“Both our countries have new governments in place; let us become best partners by creating new jobs in our countries,” Moon said. “Let us move forward hand in hand toward a path of joint and common prosperity.”

The U.S. trade deficit with South Korea has more than doubled since KORUS came into place in 2012 and was predicted to raise US exports by $10 billion annually but actually fell $3 billion last year when compared with 2011.

The US government is deliberating on whether it will impose tariffs or quotas on South Korean steel imports.