Trump Confirms US-South Korea Trade Deal Remains Unchanged Despite ‘Problem’

Washington: U.S. President Donald Trump announced that the United States and South Korea have agreed to uphold their existing bilateral trade agreement, despite a previously mentioned "problem." This statement followed a summit with South Korean President Lee Jae Myung in Washington.According to Yonhap News Agency, Trump made these remarks during a Cabinet meeting where he highlighted various trade agreements his administration has achieved. These deals aim to reduce America's trade deficits and enhance federal revenue. Trump noted that although there was an issue with South Korea, the two nations resolved it without altering the terms of the agreement. "I heard there was a problem with South Korea, but we met yesterday, and they are done. We didn't do it. We just kept the same deal. He honored the deal," Trump stated.He further commented that South Korea had initially shown interest in renegotiating the terms. However, during Monday's Oval Office meeting, he emphasized that this interest did not guarante e any changes. Despite not elaborating on the specific "problem," Trump assured that both nations would continue to honor the existing terms.The trade agreement involves the U.S. administration's commitment to reduce tariffs on South Korea to 15 percent from the initially proposed 25 percent. In exchange, South Korea pledged to invest US$350 billion in the United States, among other promises.