mar 28, 2018 - (7) US & South Korea reach KORUS agreement
Description:
March 28, 2018, the U.S. Trade Representative Office (USTR) announced the U.S. and South Korea have reached an agreement in principle on an improved U.S.-South Korea Free Trade Agreement (KORUS). Modifications of the KORUS will include an extended tariff phaseout schedule for U.S. tariffs on trucks, improved U.S. auto market access to South Korea, Customs improvement and pharmaceutical Reimbursements. USTR also confirms that South Korea will be exempted from the Section 232 tariffs on steel and aluminum.
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