Trump wants to cut trade deficit with Korea

WASHINGTON (AP) — President Donald Trump says the United States is negotiating a new trade deal with South Korea.

While welcoming South Korean President Moon Jae-in to the White House on Friday, Trump said: “We want something that will be very good for the American worker.”

The president says they discussed North Korea and trade over dinner Thursday night.

“We are renegotiating a trade deal right now as we speak with South Korea and hopefully it will be an equitable deal, it will be a fair deal for both parties,” said Trump.

Trump has called the existing trade deal bad for U.S. workers.

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.

Moon says his presidential election in South Korea was to reconfirm a strong trade alliance with the U.S.

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