WASHINGTON/SEOUL (Reuters) – 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 on 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.
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