The US and South Korean governments will hold talks on the bilateral free trade agreement (KORUS) on January 5 in Washington, as announced by the relevant government officials of the two countries.
Republican President Donald Trump has threatened to withdraw his country from the deal, which was struck during the days of Barack Obama's Democratic predecessor. Trump is demanding that the terms of the deal be changed to reduce the US's current trade deficit with South Korea, which stands at nearly $ 28 billion.
Prominent US lawmakers and the US Chamber of Commerce, the country's most powerful business lobby, are urging Trump not to act on the threat, pulling out of a deal reached five years ago.
The talks will be led by US Deputy Secretary of Commerce (USTR) Michael Biman and Wu Myung-hee, a senior South Korean official who was involved in negotiating the bilateral agreement, according to the US Government and Korea.
In October, Seoul agreed to begin talks to consider US claims.
Since the agreement took effect in 2012, the current US trade deficit with South Korea has more than doubled to $ 27,6 billion in 2016. However, by July 2017, the deficit had shrunk to 13,1 billion. billion from the 18,8 billion in the corresponding period of 2016, according to official statistics.
