Tuesday, August 6, 2013

US Trade Deficit with S. Korea Exceeds $11 Bln

International/News/News/KBS World Radio
When was the last time the numbers were in America's favor??
Answer = never !
Or by design?

And this was only for the first six months of the year. LOL  

US Trade Deficit with S. Korea Exceeds $11 Bln
The U.S. trade deficit with South Korea surpassed eleven billion dollars in the first half of the year.

The U.S. Department of Commerce said in a report that U.S. imports of South Korean products reached roughly 31-point-four billion dollars between January and June, while U.S. exports to South Korea totaled around 20-point-three billion dollars.

As a result, U.S. trade deficit with South Korea amounted to eleven billion dollars, up nearly 52 percent from the same period last year.

Among the U.S.’ major trading partners, South Korea ranked eighth in terms of posting trade surplus.

Some observers in the U.S. claimed that the latest figure showed that the South Korea-U.S. free trade agreement that went into effect in March 2012 was unilaterally in favor of South Korea. However, both South Korea’s and U.S.' governments explained that both countries saw profits when including service and investment sectors.

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