In 2018, South Korea handed President Donald Trump the first trade victory of his administration. Under the agreement, new South Korean steel export restrictions were put in place and more U.S. automakers could export their cars to South Korea. The president hailed it as "a historic milestone," a "great deal for American and Korean workers" and a "fair and reciprocal" deal. That was probably overselling what amounted to a modest rewrite of a pre-existing trade agreement, but South Korea was happy to play along if it meant buying peace and quiet. When Trump took office in January, South Korea seemed well-positioned to weather the looming tariffs the president was eager to implement. But it was not to be. Earlier this week, Trump announced he would impose a 25% tariff on South Korean exports starting Aug. 1, unless its government agreed to even more concessions. The new threat sent a message that resonated far beyond Seoul: Trump can't be trusted. This is a preview of Joseph Zeballos-Roig's latest column. Read the full column here. |
