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  • Author: Troy Stangarone
  • Publication Date: 04-2018
  • Content Type: Journal Article
  • Journal: International Journal of Korean Studies
  • Institution: International Council on Korean Studies
  • Abstract: Following a relatively successful period for U.S.-South Korea economic relations under the Bush and Obama administrations, Washington and Seoul have entered a new period of economic tension in the Trump administration. Unlike prior U.S. presidents, who placed a priority on negotiating fair rules in the United States’ economic relationships, President Trump has prioritized outcomes. As a result, one of his administration’s earliest moves was to renegotiate the KORUS Free Trade Agreement. While the results of the renegotiation were modest, they may help to expand the sale of American automobiles in the Republic of Korea in the long-run. The largest outcome of the negotiations may be to protect the Ford Motor Company from South Korean competition in the U.S. market as the company transitions to sales focused on light trucks. While the renegotiation has eased tensions for the moment, the prospect of economic engagement with North Korea, the Trump administration’s continued use of national security to erect trade barriers, and the emergence of new technologies such as artificial intelligence and autonomous vehicles could result in growing tensions in the relationship.
  • Topic: Economics, Treaties and Agreements, Bilateral Relations, Negotiation, Free Trade, Donald Trump
  • Political Geography: Asia, South Korea, North Korea, North America, United States of America