U.S. Republican presidential candidate Donald Trump’s camp has heavily criticized the South Korea-U.S. free trade agreement in an official economic policy report.
The Washington branch of the Korea International Trade Association(KITA) said Tuesday that Trump’s camp announced the report entitled “Scoring the Trump Economic Plan: Trade, Regulatory & Energy Policy Impact” on September 26th.
It is known that the report serves as a basis for the Republican candidate’s continued disapproval of the South Korea-U.S. FTA.
Written by Peter Navarro and Wilbur Ross, senior policy advisers to Trump, the report said that the U.S.’ low economic growth rate is due to a growing trade deficit and unfair trade practices. In particular, it stressed that the Seoul-Washington trade pact is a result of failed negotiations driven and supported by Trump’s Democratic rival Hillary Clinton. The report insisted that 95-thousand jobs have disappeared and the trade deficit to South Korea has nearly doubled in the U.S. since the effectuation of the pact.
Noting the FTA's impact on the U.S. automobile industry, the report said that job losses were especially serious in the states of Michigan, Ohio and Indiana.