President Donald Trump said Friday that the United States is close to striking a trade deal with South Korea, an achievement that would mark an end to the free trade agreement between the two countries.
“The deal with South Korea, according to Secretary Ross and Bob Lighthizer, is very close to being finished and we are going to have a wonderful deal with a wonderful ally,” Trump said. “We are getting very close to it. It was a deal that was causing a lot of problems for our country in terms of employment and lots of other things.”
Trump, who made the comments during an event about the newly passed government funding bill, has long complained about the trade deal with South Korea.
“It is unacceptable, it is a horrible deal made by Hillary,” he said in a Reuters interview, adding, “It’s a horrible deal, and we are going to renegotiate that deal or terminate it.”
Then-secretary of state Hillary Clinton renegotiated the deal in 2012.
During the event on Friday, Commerce Secretary Wilbur Ross told reporters that they were “relatively close to a pretty comprehensive resolution with the South Korean government.”
“It will encompass, if it goes through, both the 232s and broader trade issues. And we have hope sometime next week to be able to have a real announcement,” Ross said.