President Donald Trump on Monday announced a trade agreement between the United States and South Korea that he said will be mutually beneficial.
Trump and South Korean President Moon Jae-in met at the United Nations, where many world leaders are gathering this week for the General Assembly.
"We've had terrific talks on trade, and we'll be signing in a little while a very important trade agreement with South Korea and the United States. And I think it is a very exciting event," Trump said.
Trump and Moon later made the announcement at the United Nations and held a signing ceremony.
"It was long time in coming and it is a basic redoing of the agreement that was done before, which was a very unfair agreement for the United States. I think that President Moon and myself are very happy. It is great for South Korea, it is great for the United States, it is great for both."
The Trump administration has been working to renegotiate many of America's trade deals to make them more fair. The deal with South Korea is more complicated because of North Korea, which is in the midst of negotiations with the U.S. and South Korea over the dismantling of its nuclear program.
Trump indicated earlier this year that he was considering a plan to pull all 32,000 U.S. troops from South Korea, which would leave that country vulnerable to a North Korean attack.
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