WASHINGTON – The South Korean presidential office disputed claims that the Korea-US Free Trade Agreement will be subjected to renegotiation, while comments implying such an outcome continued to come from the White House on Friday.

“President Trump highlighted trade imbalance, particularly in steel and auto industries, and suggested the need for a new agreement or to take certain steps (in existing trade conditions),” said Chang Ha-sung, Moon’s top policy advisor, disputing all related reports.

Chang went on to say that Moon emphasized the reciprocal nature of the Korea-US FTA, and suggested that working level officials conduct a joint analysis and assessment of the trade deal.

“In the summit, the two sides did not negotiate regarding a renegotiation of the FTA. Regarding trade, what is contained in the joint statement is everything.”
 

The joint statement said that Seoul and Washington will seek expanded and fair trade, to remove trade barriers, and to address issues surrounding oversupply of certain materials.

Just as Chang added his voice to Cheong Wa Dae’s repeated denial that the Korea-US FTA will be renegotiated, conflicting comments continued from the White House.

“At the direction of the President, Ambassador Lighthizer is calling a special joint committee meeting to start the process of renegotiating and amending the deal,” White House deputy press secretary Sarah Sander said, responding to a question on whether negotiations on the FTA has been reopened.

“And as always, and as we‘ve said many times before, the President is committed to making sure he gets the best deal and a better deal if possible when it comes to trade.”

Speculations about a possible renegotiation of the trade deal, which took effect in 2012, have been raised for some time, with Trump attacking the deal as “horrible” and a “disaster.” The speculations received a further boost after Trump hosted the welcoming dinner for Moon on Thursday, when he tweeted that a “new trade deal” was being discussed with South Korea.

By Choi He-suk
Korea Herald correspondent
(cheesuk@heraldcorp.com)