South Korea, U.S. Agree on Trade Pact Changes to Appease Ford on Exports

The U.S. and South Korea reached an agreement to change automobile provisions in a pending trade deal, seeking to meet the demands of Ford Motor Co. and lawmakers.

Both countries will scale back the initial tariff cuts for automobiles, and South Korea said it would allow more imports of U.S.-made vehicles that meet American standards and not Korean rules, according to fact sheets released today by the White House.

To contact the reporter on this story: Mark Drajem in Washington at mdrajem@bloomberg.net

To contact the editor responsible for this story: Steve Geimann at sgeimann@bloomberg.net

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