Administration officials: KORUS currency side deal will be non-binding, lays ‘groundwork’ for NAFTA

A currency agreement being negotiated by the U.S. Treasury Department and Korea’s Ministry of Strategy and Finance will not be subject to the U.S.-Korea Free Trade Agreement dispute settlement rules, administration officials said Tuesday -- adding that the Trump administration instead will rely on Korea being a “serious” partner that abides by its currency commitments. The side deal, which officials called a “historic” arrangement, will inform currency provisions the United States seeks in future trade agreements -- including in the...