President Donald Trump’s new trade deal with South Korea is historic, according to White House National Trade Council Director Peter Navarro, something he said is pivotal for future negotiations.
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“President Trump is very actively engaged and is the head of negotiations that will take place,” Navarro told FOX Business’ Maria Bartiromo on “Mornings with Maria” on Thursday.
The revamped agreement permanently exempts South Korea from Trump’s new 25% tariff on imported steel. In exchange, South Korea will increase market access to U.S. automakers.
Navarro said the deal eliminates economic tensions and allows the U.S. to effectively manage an existing relationship with the country.
“President Trump, [a] visionary, saw a problem coming that was going to hammer Michigan and other states,” he said. “We think it’s really a way to keep the trade peace.”
North Korean leader Kim Jong Un will meet with President Moon Jae-in next month at a border village, officials said, in a move that could potentially improve relations between the neighboring countries and denuclearize the Korean Peninsula.
Trump plans to meet with Kim Jong Un by the end of May.