VIDEO: N. Korea, Trade Dominate US – S. Korea Talks< < Back to
U.S. President Donald Trump says that he will start to reduce the U.S. trade deficit by renegotiating a trade deal with South Korea.
The United States recorded a $27.6 billion trade deficit with South Korea last year. The deficit began to increase from $13.2 billion in 2011 after a free-trade agreement between the two countries took effect in 2012.
Trump said: “We cannot allow that to continue.” The president is meeting Friday at the White House with South Korean President Moon Jae-in.
Trump made the remarks while in the cabinet room with advisers.
Commerce Secretary Wilbur Ross says that U.S. autos, steel and other companies still face trade barriers in South Korea.
White House Economic Adviser Gary Cohn said he would be interested in discussing with the South Koreans how the deal with trade imbalances with China.
The South Korean president also make remarks and some Trump administration advisers listened to translations through headphones.
In response to the South Korean remarks, Trump said: “OK, we can do that and I am sure that everybody understood that answer.”
He did not answer reporter questions on health care issues.