US Deficits Prompt Trump To Threaten Global Trade
US President Donald Trump has raised a major political storm in both the United States and the
Republic of Korea, its long time ally, by threatening to terminate the bilateral free trade
agreement. While making the statement, Trump, it appears, was not thinking about narrowing the $17
billion trade deficit the US has with the ROK. Rather, his is a desperate bid to rewrite existing
global trade rules in favor of the US.
He has ordered the Department of Commerce to investigate steel imports under Section 232 of the
Trade Expansion Act of 1962, which allows the imposition of tariffs on imports for national security reasons.