Trump seeks talks to overhaul South Korean trade deal
The Trump administration is seeking talks that could lead to the renegotiation of a free-trade agreement with South Korea.
US Trade Rep. Robert Lighthizer told South Korea Wednesday that the United States wants to meet to discuss "possible amendments and modifications" to the pact that that went into effect five years ago under President Barack Obama.
Obama had predicted that the pact would increase US exports to South Korea, the world's 11th-biggest economy. Instead, US exports of goods to South Korea fell, and the US trade deficit in goods with South Korea widened from $13.2 billion to $27.6 billion over the same period.
President Donald Trump has criticized past trade deals and has already begun an effort to renegotiate the North American Free Trade Agreement with Mexico and Canada.
