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

Reuters  |  WASHINGTON 

(Reuters) - The United States said on Wednesday it had notified that it is seeking negotiations to make amendments to a five-year-old free agreement to remove barriers to U.S.

"Since KORUS went into effect, our 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. Representative Robert Lighthizer said in a statement, referring to the U.S.-Korean agreement.

He said a meeting of the joint committee, chaired by USTR and South Korea's ministry, will meet in in August to discuss the next steps.

(Reporting by Lesley Wroughton; Editing by Leslie Adler)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)