DPRK, trade issues in focus during Moon-Trump summit

Global Business

In their first face-to-face summit since Moon Jae-in won the Republic of Korea presidency by the largest vote margin in history, he and U.S. President Donald Trump aired their differences publicly.

CGTN’s Jessica Stone reports.

The two differ vastly on their approach to the Korea nuclear issue. Moon is an ardent supporter of engagement with Pyongyang.

In 2007, his advocacy led to the first visit by an R.O.K. president in more than 50 years.

“Our two leaders will employ both sanctions and dialogue in a phased and comprehensive approach,” said Moon Jae-in at a public press statement in the Rose Garden.

But Trump is taking a hard line with the DPRK, demanding it cease its nuclear program before and any talks are possible.

“The era of strategic patience with the North Korean regime has failed,”Trump said. “aAd frankly that patience is over.”

Trump was even more determined to talk trade. He repeatedly and publicly raised Seoul’s $28 billion deficit with Washington he also said he’s re-negotiating the Korea-U.S. free trade agreement even though it has not expired.

“The trade imbalance with South Korea has doubled since the KORUS treaty was put into effect, added U.S. Commerce Secretary Wilbur Ross. “And the largest single component of that is automotive trade.”

Trump said the auto pays recent order of F-35’s will help close that and balance as well its 20 year contract with Cheniere to purchase American natural gas.  

According to a national security spokesperson who heard his remarks translated, Moon told Trump that the treaty is mutually beneficial but that he is willing to address concerns.