S. Korea posts $19.8 billion trade gap with US

S. Korea posts $19.8 billion trade gap with US

South Korea experienced it's largest-ever trade deficit with the US last year, the Korea Trade-Investment Agency said. South Korea's trade deficit with the US rose 51% year-on-year to $19.8 billion in 2004, the government agency disclosed. A weakening US Dollar makes US exports cheaper and imports more expensive, thus discouraging Americans from purchasing foreign-made goods. Nevertheless, the US saw record trade deficits with major trading partners in 2004. In 2004, the US trade shortfall with China rose 31% year-on-year to $161.98 billion while the deficit with Canada grew 27%. The shortfall with Japan also edged up 14% to $75.2 billion. The US trade gap with the entire European Union totaled $114.08 billion.