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U.S. tells South Korea it plans to start talks to amend trade pact

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - The United States said on Wednesday it had notified South Korea that it is seeking negotiations to make amendments to a five-year-old free trade agreement to remove barriers to U.S. trade."Since KORUS went into effect, our trade deficit in goods with Korea has doubled from $13.2 billion to $27.6 billion, while U.S. goods exports have actually gone down," U.S. Trade Representative Robert Lighthizer said in a statement, referring to the U.S.-Korean trade agreement.He said a meeting of the joint committee, chaired by USTR and South Korea's trade ministry, will meet in ...

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First Published: Thu, July 13 2017. 01:54 IST