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Trump is making moves to pull out of the South Korea trade agreement? Do you agree?

Yes
No
I have a different plan



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1. Patricia Pomerleau CEOExpressSelect Member
     Forum Moderator
     (9/3/2017 8:14:29 AM)
     Message ID #289815

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President Trump has instructed advisers to prepare to withdraw the United States from a free-trade agreement with South Korea, several people close to the process said, a move that would stoke economic tensions with the U.S. ally as both countries confront a crisis over North Korea’s nuclear weapons program.

Withdrawing from the trade deal would back up Trump’s promises to crack down on what he considers unfair trade competition from other countries, but his top national security and economic advisers are pushing him to abandon the plan, arguing it would hamper U.S. economic growth and strain ties with an important ally. Officials including national security adviser H.R. McMaster, Defense Secretary Jim Mattis and National Economic Council director Gary Cohn oppose withdrawal, said people familiar with the process who spoke on the condition of anonymity to discuss internal White House deliberations.

Although it is still possible Trump could decide to stay in the agreement to renegotiate its terms, the internal preparations for terminating the deal are far along, and the formal withdrawal process could begin as soon as this week.


Trump has threatened before to withdraw from trade pacts only to pull back, but his threat to South Korea comes as the two countries look to create a united front against North Korea at a time when military tensions are at their highest level in years.

As if to underscore the point, North Korea said Sunday that it had developed a more advanced nuclear bomb with "great destructive power," releasing photos of Kim Jong Un inspecting what it said was a hydrogen bomb which they claim was tested on Saturday.

Trump is “playing with fire,” said Gary Schmitt, co-director of the Marilyn Ware Center for Security Studies at the American Enterprise Institute. “There is a new president in South Korea whose instincts probably are to be probably not as pro-America as his predecessor, and now you are putting him in a situation where he has to react. In fact, what you need now is as much cooperation as possible.”

White House advisers are trying to stop Trump from withdrawing from the South Korea free-trade agreement in part because they do not want to isolate the government in Seoul during a perilous time on the Korean Peninsula. North Korea has become increasingly adversarial with its missile program, testing nuclear weapons and firing missiles over Japan in a way that has alarmed the international community.

South Korea is the sixth-largest goods trading partner with the United States, accounting for $112.2 billion in two-way trade last year, according to the U.S. trade representative. U.S. companies exported $42.3 billion in goods to South Korea and imported $69.9 billion in goods last year, leaving a trade deficit of $27.7 billion.

Withdrawing from the deal could lead to a large increase on tariffs levied against products the United States imports from South Korea, such as electronics, cellphones and automobiles. South Korea would also immediately start charging very high tariffs on goods and services imported into its country. Chad Bown, who served as an economist in the White House during the Obama administration, said the tariff the U.S. government charges against many Korean imports would rise from 0 to 3.5 percent. The tariff South Korea charges against U.S. imports would rise from 0 to almost 14 percent, making it harder for U.S. companies to find buyers there.

Now that Bannon is gone from the WH most advisors are recommending not to mess with the South Korea free trade agreement at this perilous time with North Korea. That being said, Trump seems determined to continue movement towards cancelling the agreement as he made a promise he would cancel the agreement and he believes his followers want him to keep his promise to cancel trade agreements which he believes disadvantage the US.

There are always different sides to an argument.

What do you think?

  • Should the free trade agreement with South Korea be cancelled.
  • Is the timing too fragile to cancel a trade deal with an ally?
  • Do you have a different take on the trade deal?


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2. Stewart Riley
     (9/3/2017 9:18:38 AM)
     Message ID #289817

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This is just another example of Trump not having a clue how actual business works. If we pull out of this deal, it's Americans who will be most affected on both ends: we'll pay more for goods that are still going to come from S. Korea (Samsung, as an example, is not going to move their manufacturing to the U.S. because of this) while many of the goods we export to S. Korea can be obtained elsewhere and will be once ours have a 14% tariff slapped on them. That hurts both American companies and their workers, directly and indirectly. And all that is completely without considering the security situation.

Trump made a stupid promise and now (just like in everything else) he'll double-down on his bad idea despite any expert advice to the contrary. Why anyone expected a failed real estate developer who knows nothing about any other form of business to be able to handle matters like international trade, I've never understood. This is a man who had to turn to shady cash from people like Russian oligarchs to save his hash when no one else would give him the time of day, much less a loan. A man whose poor business decisions have bankrupted businesses again and again, including casinos at a time when the casino business in general was booming. His reputation is all hype, no more real than an episode of The Apprentice. This is just another instance of his poor business sense and bad management coming to the fore, but this time it's not just his unfortunate business partners who will pay for his mistakes, inexperience, and stupid decisions. It's all of us.

3. Noel Meyer
     (9/3/2017 9:37:48 AM)
     Message ID #289818

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North Korea:
possible hydrogen bomb
possible long range missiles
existing heavy concentrations of conventional weapons
South Korea + Japan right in the cross hairs of North Korea

Trump's government:
need to pass increase to debt limit
need to address fast track aid to hurricane victims
want to pass tax reform (idiotic idea right now)
want to keep working on health care reform (dead, dead, dead)
want Americans to pay for a wall Mexico won't

So what does Trump focus on?
Pulling out of the South Korea trade agreement at a time when UNITY in Korea needs to be demonstrated to even North Korea

4. Douglas Robb CEOExpressSelect Member
     (9/3/2017 10:34:53 AM)
     Message ID #289819

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Per usual, trump is listening to the voices in his head and the cheers from the uninformed at his rallies rather than from his top national security and economic advisers who are unified in their opposition to the plan. They are correctly arguing it would hamper U.S. economic growth and strain ties with an important ally. Officials including national security adviser H.R. McMaster, Defense Secretary Jim Mattis and National Economic Council director Gary Cohn oppose withdrawal.
The Washington Post has an article showing that the trade agreement is a mixed bag: https://www.washingtonpost.com/news/worldviews/wp/2017/09/02/a-quick-guide-to-the-south-korea-free-trade-deal/
Some U.S. industries have benefited tremendously. Beef exports to South Korea, for example, rose 152 percent between 2011 and 2017. U.S. service industries also have done well. In 2016, there was a $10.7 billion trade surplus, according to the Office of the U.S. Trade Representative. Additionally, Korean companies have invested $23 billion in the United States.


Having no legislative achievements trump is desperate to deflect and distract his base. Along with his stupid position on trade with South Korea, trump has forced Canada and Mexico to come to the table to renegotiate NAFTA. In typical trump-style, while the representatives are meeting trump is tweeting that the negotiations are a waste of time and he will probably withdraw from the agreement.
At a campaign-style rally in Phoenix last week, he said: "Personally, I don’t think we can make a deal. I think we’ll end up probably terminating NAFTA at some point." In a series of Twitter messages this weekend, he said: "We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both being very difficult, may have to terminate?" This was written during a string of insults against Mexico and repeated threats to build a wall at the Mexican border and make Mexico pay for it.
A strange way to make a deal, unless you really are more focused on pandering to your base.
https://www.winnipegfreepress.com/opinion/editorials/time-to-call-trumps-nafta-bluff-442077343.html

Message edited by user at 9/3/2017 10:39:18 AM

5. Douglas Robb CEOExpressSelect Member
     (9/3/2017 10:52:24 AM)
     Message ID #289821

This message is in response to Noel Meyer ( message id #289818 )  View All Related Messages

Right on, as usual Noel, "need to pass increase to debt limit" U.S. Treasury Secretary Steven Mnuchin said relief funding for hurricane-ravaged areas of Texas might be delayed if the U.S. Congress does not quickly increase the government’s debt limits.
Instead of distracting and dissembling, perhaps proposing something real would be better. How about providing the tax cut to business ONLY TO BUSINESSES THAT BUILD THINGS IN THE US. Raise the tax rate for businesses that go off-shore to manufacture things they sell in the US. Wouldn't that help?

Message edited by user at 9/3/2017 11:23:01 AM

6. Tams Bixby CEOExpressSelect Member
     (9/3/2017 12:19:03 PM)
     Message ID #289822

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If Trump continues on the course he's currently going on he'll further exhibit the mentality and tendencies that the country exhibited BEFORE Dec 7, 1941, a desire to become ISOLATIONIST in its' views and actions.

I disagree wholeheartedly with an ISOLATIONIST POV and look forward to someone, perhaps Congress although I'm not holding my breath, reining him in before we end up as a SOLITARIAT among nations which would be nothing but disastrous.

7. Patricia Pomerleau CEOExpressSelect Member
     Forum Moderator
     (9/3/2017 1:43:01 PM)
     Message ID #289823

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Trump's behavior just leaves me scratching my head.

Exactly who is he looking out for? He's escalating the tension in Asia via his erratic thoughtless behavior. Jobs won't matter if we are annihilated.

And, he's still pushing for that stupid wall. That stupid, useless wall.

Well, that won't matter either if he still keeps on my "mine is bigger than yours" foolishness with Kim Jung un. Dear God Trump, you are the president of the UNITED STATES. This isn't about YOU. Jesus.

8. Robert Fahrbach CEOExpressSelect Member
     (9/3/2017 2:07:57 PM)
     Message ID #289825

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South Korea has enjoyed major economic success under US patronage. Now with world class corporations dominating segments of the electronics and automotive industries... it is time for SK to move out from beneath that patronage and slide into the competitive world of free enterprise.

Hopefully, that will provide a little wiggle room for US firms to compete more evenly.

In addition, the US must be free to pursue a course against NK and may have to choose alternatives the South does not agree with. Best to differentiate our interests early then to deal with eleventh hour misunderstandings.

I wonder where everyone was when the President made these policies abundantly clear during his campaign. I think we are simply not used to a Chief Executive who actually executes his campaign promises.

Incidentally - if you have a construction company you may want to scramble up a competitive bid for your piece of the wall. The bidding process is in progress.

Message edited by user at 9/3/2017 2:09:38 PM

9. scott walker
     (9/3/2017 2:23:25 PM)
     Message ID #289826

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The situation with North Korea is bad but it was even worse when the Soviet Union was still in existence. Is it Time to consider putting back the missiles remove from South Korea.

10. scott walker
     (9/3/2017 2:38:21 PM)
     Message ID #289827

This message is in response to scott walker ( message id #289826 )  View All Related Messages

The best option is a SK/NK sniper to remove fat boy.
The THADD news is a start.
http://www.independent.co.uk/news/world/asia/china-us-america-anti-missile-thaad-defense-system-south-north-korea-spying-donald-trump-military-a7713251.html
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