U.S.-Korea FTA News

The 20-year extension of the 25 percent U.S. duty on light and medium and heavy trucks agreed to in principle by the Trump administration and Korean government as part of the revised U.S.-Korea Free Trade Agreement would continue to dissuade Korean exporters from entering the U.S. truck market, the U.S. International Trade Commission reported Monday in an analysis requested by U.S. Trade Representative Robert Lighthizer. The ITC found that pushing the elimination of the 25 percent tariff the U.S. maintains...

The U.S. and South Korea have resolved remaining issues with the revised U.S.-Korea Free Trade Agreement and will release the text this month, sources told Inside U.S. Trade . Washington and Seoul settled on an agreement in principle in late March and, since then, have been working out the details in the final pact. “There are no big problems left,” one source told Inside U.S. Trade. “No stumbling blocks remain so we are optimistic we can move forward with releasing...

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...