Trump says South Korea trade deal being updated

WASHINGTON (AP) — President Donald Trump says the United States is on the verge of amending its trade agreement with South Korea.

The president told reporters at a Friday news conference that trade deals are being made with various countries and then highlighted South Korea, a key economic and national security partner in Asia. The United States ran a $10.3 billion trade imbalance with South Korea last year.

After Trump's remarks, Commerce Secretary Wilbur Ross said the negotiations involved exemptions from the steel and aluminum tariffs announced this month, among other issues. Ross said he hoped a final agreement would be announced next week.

A free trade pact between the United States and South Korea went into effect in 2012.

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