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Wednesday, March 28, 2018

US-Korea Trade Pact Revisions


The United States and South Korea agreed to revise a trade pact with U.S. automakers winning improved market access, according to statements from South Korea. "We had heated discussions," South Korean Trade Minister Kim Hyun-chong told reporters in Seoul. "The latest agreement removed two uncertainties."
However, it appears that expanded access to the South Korean market for U.S. agricultural products is not part of the final outcome of the trade deal updates. President Donald Trump March 23 said an amended deal between the U.S. and South Korea “is very close to being finished.” Commerce Secretary Wilbur Ross said the U.S. is close to a “pretty comprehensive resolution” with South Korea, hoping to have a "real announcement" on a trade deal this week.