President Trump: Trade Deal In Principle Reached With South Korea

As the push to make trade more fair for the U.S. continues, President Trump says an agreement in principle has been made with South Korea.

The president said in a tweet Wednesday, the country’s trade representative announced a great deal for American and Korean workers.

Reports say changes to the U.S.-Korea Free Trade Agreement include a permanent exemption from the steel tariffs, and a provision that will double the exports of American-made automobiles to South Korea.

In this March 26, 2018, photo, Hyundai Motor’s vehicles are seen at the company’s export yard in Ulsan, South Korea. Unions at South Korea’s two-largest automakers, Hyundai Motor and Kia Motors, say plans to revise a free trade deal with the United States involve concessions that will prevent local automakers from entering the fast-growing U.S. pick-up truck market. (Kim Yong-tae/Yonhap via AP)

Treasury Secretary Steven Mnuchin discussed the deal and ongoing negotiations during an interview Sunday, saying a negotiation was on the table.

There’s no word yet on the exact date the deal will be signed.