President Trump’s White House plans to review and reform the five-year-old free-trade agreement between the U.S. and South Korea, Vice President Mike Pence said Tuesday. Pence announced the news while meeting with business leaders in Seoul, where he lamented the obstacles facing U.S. businesses in the country, as well as a U.S. trade deficit that he said has more than doubled in the past five years. “We have to be honest about where our trade relationship is falling short,” Pence said, describing the current state of trade as a “hard truth.” Pence’s comments jibe with Trump’s repeated vows during his campaign to rewrite trade agreements and narrow trade deficits. Pence is expected to push a similar agenda in Tokyo, where he is due to meet with Japanese Finance Minister Taro Aso later on Tuesday.
Read it at Reuters
