Trump’s New Tariffs Undermine US-South Korea Trade Deal
The Trump administration’s recent announcement of new tariffs targeting imports from South Korea, along with other nations, appears to contradict any overarching goals of trade policy. These tariffs, seemingly in violation of the existing U.S.-Korea Free Trade Agreement (KORUS), undermine a deal that has benefited both countries by increasing trade and investment. This action raises questions about the administration’s intentions, as it undermines the potential to lower trade barriers or renegotiate deals, especially since the existing deal, KORUS 2.0, was renegotiated and considered “fair and reciprocal.” Furthermore, this move could jeopardize future trade negotiations, as other countries may hesitate to make deals with an administration that does not respect agreements it makes.
John Q. Hosedrinker