US President Donald Trump vowed Tuesday to revise a US trade deal with South Korea to secure more favourable terms, while also threatening retaliatory trade sanctions against China, SCMP reported quoting AFP.
“The Korea deal was a disaster,” Trump told reporters as he hosted a White House meeting on trade, vowing the United States would negotiate a “fair deal” or scrap it altogether.
Charging that the US steel and aluminium industries were being “decimated” by dumping, Trump said he was also mulling trade sanctions against China, and was “considering all options” including tariffs.
Trump’s comments came a day after he singled out South Korea and China, along with Japan, over their trade surpluses with the United States, accusing them of “getting away with murder.”
Trump suggested at the start of the trade meeting that he had various options for dealing with foreign competition in the steel and aluminium industries, and “Part of the options would be tariffs.”
“I want to keep prices down but I want to make sure that we have a steel industry,” he told the 19 lawmakers - four Democrats and 15 Republicans.