US - South Korean trade deal includes currency agreement
- aimed at deterring competitive won devaluation
- increasing transparency of Korean forex interventions
Currency agreement is a "side-letter" to KORUS, not enforceable with trade sanctions
- US - South Korean trade deal to extend US 25 pct pickup truck tariff for 20 years, lift Korean caps on US-spec vehicles
- South korea steel exports to US to fall by about 30 pct under trade deal; Korea still subject to 10 pct aluminum tariff
- US steel, aluminum tariff exemptions for other countries will require "hard" export quotas, but these will vary by country
- South Korea agrees to amend premium pricing program for pharmaceuticals to allow US drugmakers to participate
Headlines via Reuters citing -senior Trump administration officials
