Kim Jong Un meeting with South Korean president set for April 27
Trump agreed this month to accept an invitation to meet with North Korean leader Kim Jong Un.
Kim also offered to meet directly with Trump, who quickly accepted.
"This is a big eyebrow-raiser", said Christine McDaniel, senior research fellow at George Mason University's Mercatus Center, which promotes free-market economics. If that meeting indeed takes place - some USA officials have expressed doubts - Trump will be the first sitting US president to meet a North Korean leader.
"That's so far above what any US company is shipping to Korea", Hufbauer said. But there was no guarantee that American drugs would be approved or added to the list of drugs the South Korean health system reimburses. But the U.S.is counting on close U.S.
The first inter-Korean summit took place in 2000, followed by the second in 2007.
The original deal was supposed to benefit both countries, but the results proved mostly one-sided: The U.S. trade deficit in goods with South Korea ballooned from $13.2 billion in 2011 to $22.9 billion a year ago, hitting a peak of $28.7 billion in 2015.
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State media reports without summit details do not appear to have significance. "[T] he agreement announced today by the United States and Korea includes measures that could make it easier for FCA US to export our vehicles to Korea".
The announcement of a date for talks between North and South Korea is the latest move in a flurry of diplomatic activity since the start of the year, which saw the North attend the Winter Olympics in South Korea. "But we'll probably hold that deal up for a little while, see how it all plays out", Trump said. It came with a side deal to deter competitive currency devaluation by Seoul, and more access for United States automakers and drug makers to the South Korean market. This will give him authority to negotiate free trade agreements that he can then submit to Congress under fast track approval procedures.
Rep. Don Bacon (R-NE): "The enhancements made to the trade agreement better our relationship with South Korea and encourage the expansion of America's trade economy". "It was going to produce 200,000 jobs and it did, for them". We welcome Korea's acceptance of more vehicles built to USA safety standards and efforts to harmonize Korea's environmental rules to recognize and accept USA requirements.
"Trump's remarks were a political gesture to show he is in control of both the North and South Korean issues, rather than a sign of dissatisfaction of the Korus negotiation", said Je Hyun-jung, a deputy general manager at the Korea International Trade Association. "USA red meat exports to Korea set a record last year of $1.7 billion, up 19% year-over-year and up 69% from 2012". The complex and politically charged issue of the renegotiated trade deal could prove distracting just as the U.S.is pursuing high-stakes diplomacy with Pyongyang.
The agreement will allow the United States to sell more autos and auto parts while sparing South Korea the steel tariffs announced by the United States last week. Since KORUS went into force more than five years ago, it became clear that Korea needed to do more to fully implement the agreement in order to remove trade and investment barriers for American exporters. Trump returned to the White House on Sunday shortly before CBS' "60 Minutes" aired its interview with porn actress Stormy Daniels, who says the married Trump had sex with her in his Lake Tahoe hotel room in 2006.
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