• Reuters

  • SHARE

The United States and South Korea agreed to revise their six-year-old trade pact with a side deal to deter competitive currency devaluation by Seoul and with concessions for U.S. autos and pharmaceutical companies, Trump administration officials said on Tuesday.

They told reporters that the deal includes provisions outlined by South Korean officials Monday, including a 20-year extension of the 25 percent U.S. tariff on pickup trucks and a doubling of the Korean import cap on autos that meet U.S. specifications to 50,000 per manufacturer per year.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)