Sources: U.S. could begin process of withdrawing from KORUS next week

After U.S. Trade Representative Robert Lighthizer and South Korea’s trade minister, Kim Hyung-chong, failed last month to agree on how to move forward on the U.S.-Korea Free Trade Agreement, the Trump administration is considering initiating the process of withdrawing from the deal as early as Tuesday, sources told Inside U.S. Trade.

[Jenny Leonard| September 1, 2017 | Inside US Trade]

These sources said the White House was “seriously considering” the move, although administration officials told these sources a final decision has not been made.

Sources said two White House meetings with Cabinet secretaries — one at the beginning of this week and one today — were held to discuss the potential move.

The administration, source said, has not shared its plans with many key lawmakers on Capitol Hill, where opposition to withdrawal could be fierce. They told Inside U.S. Trade a withdrawal notice has been drafted and the administration has told some in Congress it will be issued on Tuesday.

Read more at Inside US Trade

Get the latest in CPA news, industry analysis, opinion, and updates from Team CPA.