Seoul and Washington have reached an agreement “in principle” that would revise the Korea-US Free Trade Agreement (KORUS), South Korea’s trade ministry confirmed this week. The tentative agreement reportedly includes concessions from the Asian country on trade in automobiles and establishes a quota on Korean steel exports bound for the United States. 

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Topics: REGIONAL TRADE AGREEMENTS (RTAS)

Regions: KOREA, REP. UNITED STATES

Authors: INTERNATIONAL CENTRE FOR TRADE AND SUSTAINABLE DEVELOPMENT (ICTSD)