U.S. marks record trade gap with Korea

Chung Joo-won in Seoul/The Korea Herald

Seoul (The Korea Herald/ANN) - The United States' monthly trade deficit with Korea widened to a record high in April, raising the possibility that Washington may face calls for measures to supplement the year-old free trade agreement between the two countries.

According to a report from the U.S. Department of Commerce, Washington imported Korean products worth US$5.58 billion and exported goods worth $3.27 billion to Seoul in that month.

The United States' combined trade deficit with Korea from January to April amounted to $6.98 billion, a 69.1 percent increase from the same period last year.

Some industrial sectors in the U.S. are voicing the need to revise the Korea-U.S. FTA, which took effect in March last year, insisting that the trade pact aggravated the U.S. deficit.

But some experts in Seoul attributed the widened deficit to some Korean products' competitive edge in the U.S. market such as automobile parts and IT devices.