Saturday, September 2, 2017

PROTECTIONISM GONE WILD: Trump Weighs Withdrawal From South Korea Trade Pact; NAM Alert Released

Does Trump have a problem with Psy?
The Trump administration is weighing giving notice to South Korea of plans to withdraw from a five-year-old bilateral trade pact, with a decision arriving as soon as this coming week, reports The Wall Street Journal.

According to WSJ, trade negotiators from the two countries have held a series of tense meetings over the summer with American officials leaving unhappy with what they felt was Korea’s unwillingness to make significant changes to the U.S.-Korea Free Trade Agreement, known as Korus.

The National Association of Manufacturers sent an “alert” email to members shortly after 8 a.m. Saturday that said “we understand through multiple sources that. a notice of intent to withdraw. has been drafted.” The trade group urged its members “to weigh in as soon as possible with senior administration officials, Members of Congress and governors.”

Trump is scheduled to meet with top advisers in the White House on Tuesday to discuss the potential withdrawal, according to WSJ.

Once again, trade tariffs, barriers etc are asinine.


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