MySQL Workbench Connection Error: Host 127.0.0.1 is not allowed to connect

Or 'Can't connect to MySQL server on '127.0.0.1' 

On Terminal, type

sudo mysql -u root -p

mysql> GRANT ALL PRIVILEGES ON *.* TO 'root'@'localhost' WITH GRANT OPTION;
mysql> CREATE USER 'root'@'%' IDENTIFIED BY 'your_password';
mysql> GRANT ALL PRIVILEGES ON *.* TO 'root'@'%' WITH GRANT OPTION;