In a landmark for President Trump, South Korea agrees to open its auto market
SEOUL, South Korea — South Korea has agreed to further open its auto market to the United States as the two countries prepare to amend their 6-year-old trade agreement following complaints by President Donald Trump.
It marks the first successful renegotiation of a trade deal for the Trump administration — which used the threat of 25 percent steel tariffs at the bargaining table — and comes as the allies sought to resolve disputes before planned meetings with Kim Jong Un.
The deal also appeared to be an early vindication of the administration’s “America First” efforts to use the penalties as a bargaining chip in trade negotiations to extract concessions in return for exemptions and revisions to the blanket tariffs announced by the White House this month.
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4 more years!