sep 24, 2018 - (26) US & South Korea announce renegotiated KORUS
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September 24, 2018: In a joint statement, the United States and South Korea announced the signature of the renegotiated US-Kore Free Trade Agreement (KORUS). The revised KORUS will particularly open up the Korean auto markets to U.S. exports and will allow the U.S. to continue to impose a 25% tariff on Korean trucks until 2041. There is no change to the textile chapter in the agreement. The U.S. also agreed to permanently exclude South Korea from the steel tariffs, except South Korea shall cap its exports to the United States at 70 percent of the average of its export levels from 2015 through 2017. South Korea will still face the aluminum tariffs.
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