News on Youtube Mar 30 2018

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.

For more infomation >> Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:20.

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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.

For more infomation >> Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:18.

-------------------------------------------

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.

For more infomation >> Seoul and Washington jointly announce agreement on amendment to KORUS FTA - Duration: 2:20.

-------------------------------------------

Shulkin Blasts 'Toxic, Chaotic, Disrespectful' Washington In Farewell Op-Ed - Duration: 1:51.

For more infomation >> Shulkin Blasts 'Toxic, Chaotic, Disrespectful' Washington In Farewell Op-Ed - Duration: 1:51.

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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.