The first round of talks to review the KORUS trade deal between the U.S. and South Korea have failed to make progress. The fundamental problem is that the two countries are speaking different statistical languages. The USTR refers to a trade deficit in goods of $27.7 billion in 2016, which was 111% above pre-KORUS levels. Updating for June 2017 U.S. trade figures however shows a balance of $22 billion. South Korean trade figures meanwhile, for June 2017, show a goods deficit of $18.2 billion – the two countries figures have diverged since 2015. Additionally, South Korea considers the ...