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Mar 29, 2018

cnbc.com

Trump says he may 'hold up' South Korea trade deal

Mike Calia, Christina Wilkie

President Donald Trump said Thursday that he may "hold up" the U.S. trade deal with South Korea.
Trump said he could hold off on the deal until there's a deal reached with North Korea "because it's a very strong card." Earlier this month, the president accepted an invitation, conveyed by South Korean officials, to meet North Korean leader Kim Jong Un by the end of May.
Earlier this week, the U.S. and South Korea reached a deal to revise their trade pact. South Korea's steel exports to the U.S. would decline by about 30 percent. The nations also reached a side deal aimed at deterring competitive currency devaluation by South Korea.
"We've redone it, and it's going to level the playing field on steel and cars and trucks coming into this country," Trump said Thursday. "And I may hold it up until after a deal is made with North Korea, Does everybody understand that? You know why, right? Because it's a very strong card, and I want to make sure everyone is treated fairly."
Trump was giving remarks at an event to push his infrastructure plan, which would include $200 billion in federal funding meant to encourage $1.5 trillion in overall investment from states, municipalities and private entities.
This is breaking news. Check back for updates.