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Trump Clinches His First Trade Deal With Revamped South Korea Pact

  • The U.S. and South Korea held a signing ceremony in New York
  • Korea’s parliament could block it if U.S. imposes auto tariffs
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CSIS’s Reinsch discusses the trade pact between the U.S. and S. Korea, and the spats between the U.S. and its allies.(Source: Bloomberg)
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Donald Trump and his South Korean counterpart Moon Jae-in signed a renegotiated free-trade agreement on the sidelines of the United Nations General Assembly, marking the first time the U.S. president has finalized a major trade deal since entering office.

The signing ceremony in New York on Monday represented key progress for proponents of free trade between the partners, as Trump last year reportedly planned to withdraw from the pact, which came into effect in 2012. Trump during his election campaign called the original agreement a “jobs killer” and complained its terms had contributed to America’s growing trade deficit.