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U.S., South Korea Reach Agreement on Changes to Free-Trade Pact

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.

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