(photo credit: JPOST STAFF)
SEOUL- US Vice President Mike Pence told business leaders in Seoul on Tuesday that the Trump administration will review and reform the five-year-old free trade agreement between the two countries.
Pence said the US trade deficit has more than doubled in the five years since the US-South Korea free trade agreement began and there are too many barriers for US businesses in the country.
"That's the hard truth," Pence told an American Chamber of Commerce meeting in Seoul. "We have to be honest about where our trade relationship is falling short."
US President Donald Trump campaigned on an "America First" pledge, promising to overhaul trade agreements that he said hurt US jobs.