The revised deal is aimed at lowering the U.S. trade deficit with South Korea.
U.S. President Donald Trump and South Korean President Moon Jae-in have signed an update to the U.S.-South Korea free-trade agreement.
According to CNBC, “Trump calls it a “very big deal” and says the new agreement makes significant improvements to reduce the trade deficit between the countries and create new opportunities to export American products to South Korea. He says U.S. automobiles, pharmaceuticals and agricultural products will gain better access to Korean markets.
Moon says companies from both countries will be able to do business under more stable conditions. The South Korean leader also said he hopes the revised agreement with the U.S. will help solidify their cooperation in other areas.”
The move comes as the U.S. & Canada remain far apart on NAFTA talks, with Trudeau’s virtue-signalling approach having let Mexico get a deal before we did – leaving all negative U.S. attention focused on Canada.
A video of the U.S.-South Korea signing ceremony can be viewed below:
US-Korea Free Trade Agreement Signing Ceremony! https://t.co/yLFkAZgagG
— Donald J. Trump (@realDonaldTrump) September 24, 2018
Photo – Twitter