Mexican Media Brands
S. Korea, U.S. Agree to Update Trade Pact
The U.S. and South Korea agreed on Wednesday to update the 5-year-old free trade agreement between the two countries.
#economics
Share
The U.S. and South Korea agreed on Wednesday to update the 5-year-old free trade agreement between the two countries.
The talks were requested by President Donald Trump, who says the pact has driven up the U.S. trade deficit with Korea. Wednesday’s meeting was a second round of negotiations. The two sides are expected to meet for a third time next month when President Trump visits Korea.
Korea claims the U.S. deficit would have been even larger without the agreement and is pushing for a review of the issue. Last year the U.S. had a trade deficit of nearly $28 billion in goods but a surplus of $10 billion in services.
RELATED CONTENT
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data