The U.S. has formally requested negotiations to “remove barriers to U.S. trade” in the KORUS trade deal with South Korea. Changes, starting with talks in August, can only be modest to avoid being treated as a broader renegotiation. That could require consultation with Congress under TPA rules. Some of the data referred to by USTR is out of date – the deficit with South Korea is above pre-KORUS levels but has fallen 35% from its peak. Exports to South Korea actually increased in the past 12 months vs. pre-KORUS levels. Autos are a likely focus, with non-tariff barriers restricting U.S. ex...