Trump Administration Strikes Trade Deal With South Korea

The agreement, which focuses on South Korean steel manufacturers and both countries' automakers, aims to chip away at a $10 billion trade deficit.
A quality control engineer examines hot-rolled coils of steel being stored in 2015 at South Korean manufacturer POSCO's facility. Source: Worldsteel

The Trump administration has reached an agreement in principle on a new trade deal with South Korea.

The pact permanently exempts South Korea from a new 25 percent tariff that President Trump has ordered on imported steel. In exchange, South Korea will reduce its

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