Inside Trade

October 30, 2025

U.S.-Korea FTA News

Trump to sign modernized KORUS in New York on Monday

President Trump on Monday will sign a retooled U.S.-Korea Free Trade Agreement in New York, according to the White House. The signing is expected to occur an hour after a bilateral meeting between Trump and South Korean President Moon Jae-in, the press schedule says. The president is in New York this week for the United Nations General Assembly. Trump teased the signing earlier this month , telling reporters the deal had been completed for roughly two months. “The deal is...

Sources: U.S.-Mexico deal includes rules on chemicals akin to those in KORUS

Rules of origin governing whether some chemicals will be eligible for benefits under a new U.S.-Mexico trade pact are more flexible than provisions in the North American Free Trade Agreement, sources said, adding the new rules are akin to those included in the U.S.-Korea Free Trade Agreement. The new rules of origin are “more flexible” because options are provided for meeting the deal's obligations, one source said, adding that some “sensitive” chemicals would face more stringent regional value content requirements...

Trump: KORUS deal could be signed during UN conference in a 'couple of weeks'

Editor's note: This story was updated after initial publication to clarify that South Korea intends to complete a public comment period by Sept. 10. A modified U.S.-Korea Free Trade Agreement could be signed during the United Nations General Assembly meeting in New York City later this month, President Trump said on Wednesday. On Tuesday, Trump spoke with South Korean President Moon Jae-in about developments on the Korean peninsula, the White House said in a Sept. 4 statement. They plan...

KORUS 'outcomes' include potential changes in investment, rules of origin and transparency

The U.S. and South Korea, in their talks on how to modify the U.S.-Korea Free Trade Agreement, agreed to establish panels to monitor rules of origin and investment issues, according to documents released this week. The “outcomes” agreed to by Seoul and Washington include modifications to KORUS “as well as additional agreements and understandings to improve implementation of the trade pact,” the Office of the U.S. Trade Representative said in a Sept. 3 statement . The publication of the text...

U.S., Korea publish 'agreed outcomes' from KORUS talks

The U.S. and Korea on Monday published the “ agreed outcomes ” stemming from their negotiations over how to retool the U.S.-Korea Free Trade Agreement. “These outcomes include amendments and modifications to KORUS as well as additional agreements and understandings to improve implementation of the trade pact,” the Office of the U.S. Trade Representative said in a statement. “The publication of the text of the agreed outcomes follows the completion in mid-August of U.S. domestic consultation procedures,” USTR added. “Korea...

U.S. amends Section 232 product exclusion process for countries with quota deals

Correction: This story was updated after initial publication to correctly describe the amendments to the proclamations allowing U.S. companies to apply for exclusions. The U.S. on Wednesday amended a controversial Section 232 process to allow U.S. companies to apply for product exclusions from countries that have agreed to quota deals for steel and aluminum. “Companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminum producers,” the Commerce Department said in an...

Korean trade minister: Seoul will be exempt from Section 232 auto tariffs

South Korean Trade Minister Kim Hyun-chong said last week he was confident the country would be exempted from any Section 232 restrictions on autos and auto parts, contending that provisions agreed to in the modernization of the U.S.-Korea Free Trade Agreement provided Seoul with protection. “Rather than South Korea, I think [the U.S. auto tariffs will] mainly target other auto manufacturing countries , such as Mexico, Canada, Japan and the European Union,” Kim said during an Aug. 21 parliamentary committee...

August 2018 Congressional Research Service report on U.S.-South Korea agricultural trade

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Study: KORUS termination would cost U.S. consumers $4.6 billion annually

If the U.S.-Korea Free Trade Agreement is terminated, U.S. households would face a consumption tax of $4.6 billion annually, according to a report to be released on Thursday. “We find that ending the KORUS-FTA would cost U.S. consumers $4.6 billion annually and $22.8 billion over five years,” said Paul Bachman, director of research at the Beacon Hill Institute – a Boston-based free market think tank – and a contributor to the report. The report, which was commissioned by the National...

KORUS deal expected to be finalized in September; technical discussions continue

Washington and Seoul are expected to sign a revised version of the U.S.-Korea Free Trade Agreement as early as September, the Korean Trade Ministry said last week, adding that discussions on “some technical areas” are continuing even though the wording of the pact has been completed. “The two countries have virtually completed all discussions on the wording of the revised pact, except for the assessment of the potential impact of the revision and discussions on some technical areas,” a Korean...

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