(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. South Korea reiterated its plans to terminate a military intelligence-sharing pact with Japan, a symbolic deal between the two major U.S. allies.“Our position on the termination of GSOMIA hasn’t changed,” according to a presidential Blue House official who declined to be identified, confirming the Nov. 23 termination of the General Security of Military Information Agreement signed three years ago. “We don’t think the termination would weaken the alliance with the U.S.”The report followed Foreign Minister Kang Kyung-wha’s comments at parliament earlier in the day, where she said the decision “disappointed” the U.S., and Seoul would reconsider the termination of the pact if Japan cancels its July move to restrict exports to South Korea.Relations between the two U.S. allies have soured to the worst level in decades since the South Korean Supreme Court ordered a Japanese company to compensate former Korean workers conscripted during the 1910-1945 colonial times. Japan, which says all such claims were settled under a 1965 treaty, responded with tighter checks on exports to South Korea, citing national security concerns. Seoul has also stripped its neighbor from a list of trusted export destinations.To contact the reporter on this story: Kanga Kong in Seoul at email@example.comTo contact the editors responsible for this story: Shamim Adam at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.