After three months of talks,...
South Korea and the U.S. have officially reached an agreement in principle on the terms of
amending their FTA.
We have our business correspondent Kim Hyesung in the studio with us.
Hyesung, it seems both sides are happy with the concessions they've managed to squeeze
out of each other...
Yeah, that's right.
Seoul's trade minister Kim Hyun-chong and U.S. Trade Representative Robert Lighthizer
released a joint statement Wednesday night local time, saying the two countries were
pleased to announce the amendment, which addresses issues on investment, tariffs and trade remedies.
This was somewhat expected, given that Trade Minister Kim announced last weekend at Incheon
International Airport that the two sides had reached an agreement after weeks of back-to-forth
flights to Washington for formal and informal talks.
The White House also said on Tuesday local time that the two sides had reached an agreement
in principle.
What is surprising, however, is the speed of the trade negotiations.
The U.S. signaled its willingness to possibly amend the deal last summer, but Seoul and
Washington formally started the talks in January, and came to a deal after just three months.
Look at NAFTA renegotiations,...it began last August, but the U.S., Canada, and Mexico have
yet to come up with a tentative agreement on their 24-year-old-deal after six rounds
of talks.
Yeah, you could argue that NAFTA is a much more complex and established deal... and there
are also three parties involved with that one, but there's no denying this was quick.
Why do we think it was all sorted out so fast?
Well,... there's a combination of factors.
President Trump had pledged to amend or scrap the free trade agreement during his election
campaign, criticizing it as a horrible deal, pointing out America's trade deficit with
South Korea.
So he wanted to wrap up the amendment soon to show his supporters before the mid-term
elections in November.
South Korea also wants to lower uncertainty, with regards to trade with the U.S., its second
largest trading partner,...and steel and aluminum tariff measures, as South Korea is the third
largest steel exporter to the U.S.
In addition, the ongoing North Korea issue means closer cooperation from Seoul and Washington
is needed, so the two wanted to wrap up the amendment soon.
In the joint statement, it actually said quote "This represents important progress in improving
Korea-U.S. trade and economic relations, based on their strong and enduring security relationship."
And at the end of the day, both are somewhat satisfied with the deal, calling the deal
"a win-win" for both sides.
Everyone is feeling good about the changes then.
Just walk us through some of the specific amendments.
Yes, the amendments to the KORUS FTA address areas like investment, tariffs, trade in automobiles,
and trade remedies.
Seoul has agreed to lift some its safety and environmental regulations, and allow U.S.
automakers to ship Korea up to 50-thousand vehicles each, up from 25-thousand previously.
Tariffs imposed on Korean pickup trucks exported to the U.S will be extended by 20 years to
2041.
South Korea on the other hand, secured revisions to the investor-state dispute settlement clause
and other areas it has demanded since start of the trade talks, like agriculture.
There will be no further opening of South Korea's agricultural sector or mandatory use
of U.S. auto parts, which Trade Minister Kim said was a redline Seoul would defend.
Along with the FTA amendment, is an agreement on exempting South Korea from the Trump administration's
25-percent steel tariff measures.
In exchange, South Korea's quota will be set at 2-point-6-8 million tons of steel exports
a year, or 70 percent of its average annual shipments to the U.S. between 2015 to 2017.
The arrangement with respect to steel products is expected to take effect on May 1st.
Working-level officials are ironing out the details so that Seoul and Washington can finalize
their amendments to the six-year-old trade deal soon, which are subject to domestic procedures
in both countries before provisions can be brought into force.
Ok, sounds good.
Thank you Hyesung for the report.
My pleasure.
For more infomation >> Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 4:40.-------------------------------------------
Breaking Out Of Washington: Turns Out It Was Obama, Not Comey! This is Unbelievable! - Duration: 3:14.
For more infomation >> Breaking Out Of Washington: Turns Out It Was Obama, Not Comey! This is Unbelievable! - Duration: 3:14. -------------------------------------------
March For Our Lives (Washington, DC) | VLOG - Duration: 5:53.
-that's a nice hat
-thank you
-so what did we do this weekend?
-we went to the March For Our Lives in DC
(national anthem plays)
Our University provided busing there and back
and that was a bit of a process
but I'm really glad we got to go in Washington DC specifically
-what was the march like?
-The March was a lot different than I expected
before we went I did a lot of research on how to stay safe
how to take care of yourself if you are tear gassed
so I went in with these expectations but once I got there I quickly found out that I was very wrong
this march was organized to make sure that everybody feels safe
which is very appropriate for what we're marching for
-how big was the crowd?
-Crowd was huuuuge
it really messed with my ideas of what like a "march" was
because I was just expecting to nonstop be moving
But there was very little space to actually move around
because it was PACKED
you cannot understand just how big it was unless you were there
like these overhead shots don't even do it justice
we were crammed! there was- I thought it was just gonna be students
It was children: elementary school age, middle school aged! Parents, grandparents, everyone was there
every background, every shape, every size, every age
-what's your big takeaway from the march?
my takeaway...
obviously things like this shouldn't happen
but when there's such devastation the unity that comes afterwards
it can't be replicated, it can't be recreated, it can't even be described in words
just the feeling when you're there- it was incredible.
the amount of love and support and need and desire to change our country!
From the other side, if you don't believe that gun reform should happen,
(these) people will say that we're just criticizing America and that we don't like to be American
that we should just leave!
I have never felt more patriotic than when I was at that march!
because I think being a true patriot, somebody who really loves America,
is somebody who wants to see America be better
and I feel like everyone at that march didn't want to leave
they want to make our home be better
a place where we can feel safer
a place where less children have to deal with this
Now that I've talked to you about my experience and takeaways
I'm going to be playing some clips from the protest with volume
so you can experience some highlights for yourself
stick around after these clips so you can experience some of our other DC shenanigans
(Miley Cyrus singing) You'll never reach it
every step I'm taking
and every move I make feels
lost with no direction
VOTE THEM OUT!
VOTE THEM OUT!
VOTE THEM OUT!
VOTE THEM OUT!
(gospel choir singing) Ohhh in DC!
oh in DC I'm gonna let it shine!
Oh in DC we're gonna let it shine!
Oh in DC we're gonna let it shine!
Let it shine, let it shine, let it shine!
(Yolanda Renee King speaking) A great generation!
(crowd cheering back) A GREAT GENERATION!
-Now I'd like you to say it like you really, really mean it!
SPREAD THE WORD!!
-SPREAD THE WORD!!
-HAVE YOU HEARD?
-(me mishearing) SPREAD THE WORD!!!
so the first thing we had to do after the March was go on our quest for food
which was very difficult because a lot of places were shut down
If you're going to a march and you only have a few hours...
ummm screw that
get a hotel room!
Why would you-
yeeees
there's a pencil in the sky!
there's a pencil in the sky!
the first thing we have to do at Madame Tussauds was go to the bathroom
and on all the stalls at said actress, musician, cultural icon
and I made a lame joke about how I was all of the above
oh no this march is getting pretty serious
This the OG Ben
-you know.. Thomas Jefferson looks nothing like Daveed Diggs!!
-this was me apologizing to "crooked Hillary" about all the bullshit she had to deal with throughout her life
here's Ben's impression of Nixon
-(Ben as Nixon) I'm Richard Nixooon
I am not a crook!
Not a crook!
-He does look like he'd sound like that
Can you believe he's the most highly paid actor??
'cause neither can I!!
(me as Jimmy Fallon) yeah!! I break character all the time and I keep laughing
and no one calls me out for it 'cause I'm Jimmy Fallon
(me as Stephen Colbert) I'm here with Athena who was here today for the March For Our Lives!
this is us walking back to the busses
and I was complaining about how we did not spend enough time in DC
you're walking in front of the Capitol!!
do you know how many f*cked up things happen in there?!
-Too many!
-do you know how unprepared we were for this trip?
way too unprepared!!
here is us walking on a narrow strip of sidewalk-ish land on the side of the road
because we went to the wrong parking lot trying to find out where our bus is!
that's such a weird note to end on!
why would you do that?
because I want you to know that if you're planning on going to a different state to go to a march
plan better than us
please
-------------------------------------------
Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:20.
After three months of talks,...
Seoul and Washington reached an agreement in principle.... on the terms of amending
their FTA.
Both sides expressed satisfaction with the concessions they squeezed out of each other.
Kim Hyesung outlines some of the key changes.
In a joint statement, Seoul's trade minister Kim Hyun-chong and U.S. Trade Representative
Robert Lighthizer said the two countries were pleased to announce that they have reached
an agreement in principle on the amendment of their bilateral trade deal.
The statement released Wednesday night local time said the agreement addresses issues on
investment, tariffs, automobiles, customs and trade remedies.
Seoul has agreed to lift some its safety and environmental regulations, and will allow
U.S. automakers to ship Korea up to 50-thousand vehicles each, up from 25-thousand previously.
Tariffs imposed on Korean pickup trucks exported to the U.S will be extended by 20 years to
2041.
South Korea on the other hand, secured revisions to the investor-state dispute settlement clause.
The two sides also agreed to improve the transparency of the trade dispute settlement process, which
covers issue like anti-dumping duties.
But as South Korea's trade minister mentioned at a press conference Monday, there is no
further opening of Korea's agricultural market or the mandatory use of U.S. auto parts.
The announcement comes less than three months since the first round of trade talks began
in January.
In the joint statement, Seoul and Washington said the agreement represents "an important
progress in improving Korea-U.S. trade and economic relations, based on their strong
and enduring security relationship."
As well as the FTA amendment, there's an agreement on exempting South Korea from the Trump administration's
25-percent steel tariff measures.
In exchange, South Korea's quota will be set at two-point-six-eight million tons of steel
exports a year, or 70 percent of its average annual shipments to the U.S. between 2015
to 2017.
The arrangement with respect to steel products is expected to take effect on May 1st.
Working-level officials are ironing out the details so that Seoul and Washington can finalize
their amendments to the six-year-old trade deal soon, which are subject to domestic procedures
in both countriesbefore the provisions can be brought into force.
Kim Hyesung, Arirang News.
-------------------------------------------
Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:18.
After three months of talks,...
Seoul and Washington made significant progress.... in amending their FTA.
Both sides expressed satisfaction with the concessions they squeezed out of each other
thus far.
Kim Hyesung outlines some of the key changes.
In a joint statement, Seoul's trade minister Kim Hyun-chong and U.S. Trade Representative
Robert Lighthizer said the two countries were pleased to announce that they have reached
an agreement in principle on the amendment of their bilateral trade deal.
The statement released Wednesday night local time said the agreement addresses issues on
investment, tariffs, automobiles, customs and trade remedies.
Seoul has agreed to lift some its safety and environmental regulations, and will allow
U.S. automakers to ship Korea up to 50-thousand vehicles each, up from 25-thousand previously.
Tariffs imposed on Korean pickup trucks exported to the U.S will be extended by 20 years to
2041.
South Korea on the other hand, secured revisions to the investor-state dispute settlement clause.
The two sides also agreed to improve the transparency of the trade dispute settlement process, which
covers issue like anti-dumping duties.
But as South Korea's trade minister mentioned at a press conference Monday, there is no
further opening of Korea's agricultural market or the mandatory use of U.S. auto parts.
The announcement comes less than three months since the first round of trade talks began
in January.
In the joint statement, Seoul and Washington said the agreement represents "an important
progress in improving Korea-U.S. trade and economic relations, based on their strong
and enduring security relationship."
As well as the FTA amendment, there's an agreement on exempting South Korea from the Trump administration's
25-percent steel tariff measures.
In exchange, South Korea's quota will be set at two-point-six-eight million tons of steel
exports a year, or 70 percent of its average annual shipments to the U.S. between 2015
to 2017.
The arrangement with respect to steel products is expected to take effect on May 1st.
Working-level officials are ironing out the details so that Seoul and Washington can finalize
their amendments to the six-year-old trade deal soon, which are subject to domestic procedures
in both countriesbefore the provisions can be brought into force.
Kim Hyesung, Arirang News.
-------------------------------------------
Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:20.
After three months of talks,...
South Korea and the United States have officially reached an agreement in principle on the terms
of amending their FTA.
Both sides have expressed satisfaction with the concessions they squeezed out of each
other.
Kim Hyesung reports.
In a joint statement, Seoul's trade minister Kim Hyun-chong and U.S. Trade Representative
Robert Lighthizer said the two countries were pleased to announce that they have reached
an agreement in principle on the amendment of their bilateral trade deal.
The statement released Wednesday night local time said the agreement addresses issues on
investment, tariffs, automobiles, customs and trade remedies.
Seoul has agreed to lift some its safety and environmental regulations, and will allow
U.S. automakers to ship Korea up to 50-thousand vehicles each, up from 25-thousand previously.
Tariffs imposed on Korean pickup trucks exported to the U.S will be extended by 20 years to
2041.
South Korea on the other hand, secured revisions to the investor-state dispute settlement clause.
The two sides also agreed to improve the transparency of the trade dispute settlement process, which
covers issue like anti-dumping duties.
But as South Korea's trade minister mentioned at a press conference Monday, there is no
further opening of Korea's agricultural market or the mandatory use of U.S. auto parts.
The announcement comes less than three months since the first round of trade talks began
in January.
In the joint statement, Seoul and Washington said the agreement represents "an important
progress in improving Korea-U.S. trade and economic relations, based on their strong
and enduring security relationship."
As well as the FTA amendment, there's an agreement on exempting South Korea from the Trump administration's
25-percent steel tariff measures.
In exchange, South Korea's quota will be set at two-point-six-eight million tons of steel
exports a year, or 70 percent of its average annual shipments to the U.S. between 2015
to 2017.
The arrangement with respect to steel products is expected to take effect on May 1st.
Working-level officials are ironing out the details so that Seoul and Washington can finalize
their amendments to the six-year-old trade deal soon, which are subject to domestic procedures
in both countriesbefore the provisions can be brought into force.
Kim Hyesung, Arirang News.
-------------------------------------------
Weather delays bridge fix in Washington County - Duration: 0:38.
For more infomation >> Weather delays bridge fix in Washington County - Duration: 0:38. -------------------------------------------
Washington Incentives - Duration: 0:34.
For more infomation >> Washington Incentives - Duration: 0:34. -------------------------------------------
Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 0:56.
After three months of talks,...
South Korea and the U.S. have officially reached an agreement in principle on the terms of
amending their FTA.
In a joint statement released Wednesday night local time, Seoul's trade minister Kim Hyun-chong
and U.S. Trade Representative Robert Lighthizer said the two countries were pleased to announce
the amendment, which addresses issues on investment, tariffs and trade remedies.
It added that additional progress was made in the areas of pharmaceuticals, customs and
textiles.
They also agreed on the terms to exempt Korea from 25 percent steel import tariffs, in which
Seoul will limit the amount of its steel exports to the U.S. to 70 percent of its annual average
from 2015 to 2017.
The arrangement with respect to steel products is expected to take effect on May 1st.
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