Speed Reads

Trump and Trade

Trump mulls canceling South Korean trade deal during North Korean tensions

President Trump is mulling an exit from KORUS, the United States–Korea Free Trade Agreement, The New York Times reported Saturday, citing unnamed senior administration officials. The Associated Press reported the same story based on a U.S Chamber of Commerce statement to members opposing cancellation.

KORUS is a bilateral Obama-era trade deal that Trump believes is unfair to the United States, and the president said in Houston Saturday that KORUS is "very much on my mind." A White House statement to the Times said "discussions are ongoing" but did not provide any further details; Gary Cohn, Trump's top economic adviser, supports maintaining the agreement.

This comes as the United States reiterates its alliance with Seoul amid North Korea tensions. Pyongyang on Sunday claimed to have successfully tested a hydrogen bomb.