South Korea to allow more U.S. autos, ship less steel as part of trade deal

South Korea to allow more U.S. autos, ship less steel as part of trade deal

The United States and South Korea agree to revise a trade pact sharply criticised by U.S. President Donald Trump, with Korean steelmakers hit with quotas but avoiding hefty tariffs.

As part of a strategy to increase U.S. jobs and reduce the trade deficit, the administration also is considering placing higher tariffs on a number of other products, including machinery and aerospace components from China.

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