President Donald Trump floated the idea of delaying trade negotiations with South Korea to use them as leverage for reaching a deal with North Korea.

Speaking in Richfield, Ohio, on Thursday, Mr. Trump said of renegotiating the U.S.’s trade deal with South Korea: “I may hold it up until after a deal is made with North Korea.…You know why? Because it’s a very strong card.”

The U.S. earlier this week reached a preliminary agreement to grant South Korea a permanent exemption to new steel tariffs in return for trade concessions, amending a 2012 trade pact in response to U.S. concerns about its $18 billion merchandise trade deficit with Seoul. Officials on both sides said some issues remain, including related to currency manipulation, that haven’t yet been resolved.

“We’re trying to grasp the genuine intent behind President Trump’s remarks,” South Korean Minister of Trade, Industry and Energy Paik Un-gyu said Friday morning in Seoul. “We regard the renegotiation of the free-trade agreement as having already been completed smoothly.”

The two countries have been working toward summits between South Korean President Moon Jae-in and North Korean leader Kim Jong Un, followed by a meeting with Mr. Kim and Mr. Trump. The U.S. goal in meeting with Mr. Kim is complete denuclearization by North Korea, subject to stringent verification, according to U.S. officials.