U.S. President Barack Obama says it will cost U.S. companies if congressional ratification of the South Korea-U.S. free trade agreement is delayed any further.

Addressing the Republican House Issues Conference in Baltimore Saturday, the U.S. president said that the European Union is about to sign a trade deal with South Korea and might get into the South Korean market earlier than the U.S.

He stressed that he will talk more about trade this year and ensure that trade is reciprocal rather than lopsided.