The world moves on while the Trump administration stays in the GATT era.

Song Jung-a, reporting for Financial Times

The Trump administration is to review and reform the US trade deal with South Korea, Mike Pence said on Tuesday, citing a widening bilateral trade deficit and obstacles for American businesses in the east Asian nation.

“We have to be honest about where our trade relationship is falling short,” the US vice-president told US and Korean business leaders in Seoul. “Our businesses continue to face too many barriers to entry, which tilts the playing field against American workers.”

The US has to “level that playing field”, he added, saying “we will work with you” as we “reform Korus [the Korea-US trade deal] in the days ahead”.

Push for bilateral with the focus on goods continues. The world moves on while the Trump administration stays in the GATT era.