Tags: South Korea | Trade | Surplus | US | Finance | Minister

South Korea Working on Reducing Trade Surplus With US: Finance Minister

Image: South Korea Working on Reducing Trade Surplus With US: Finance Minister
(Dollar Photo Club)

Sunday, 30 Apr 2017 10:48 AM

South Korea's finance minister said on Sunday the government was already working on downsizing its trade surplus with the United States, a reference to U.S. President Donald Trump's comments Thursday that Washington will renegotiate or scrap the free trade pact the two countries have.

Finance Minister Yoo Il-ho added in televised comments he did not expect the free trade agreement will be terminated. It has been in effect since 2012.

"If one party requests for the trade deal to be terminated, it can be ended six months following the request. But we don't feel that will happen yet," said Yoo.

"We feel that there will be talks in any form to renegotiate the terms and we are preparing for them."

Yoo reiterated his previous comments that Seoul has not yet received formal requests for talks to renegotiate the free trade deal from Washington yet. Trump's threat to terminate the trade pact in a Reuters interview sent South Korea's currency and shares down on Friday.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Markets
South Korea's finance minister said on Sunday the government was already working on downsizing its trade surplus with the United States, a reference to U.S. President Donald Trump's comments Thursday that Washington will renegotiate or scrap the free trade pact.
South Korea, Trade, Surplus, US, Finance, Minister
164
2017-48-30
Sunday, 30 Apr 2017 10:48 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved