Tuesday 13 November 2018

Donald Trump seals first major trade deal with South Korea

The US president signed the deal with Seoul’s Moon Jae-in.

President Donald Trump and South Korean President Moon Jae-In participate in a signing ceremony (Evan Vucci/AP)
President Donald Trump and South Korean President Moon Jae-In participate in a signing ceremony (Evan Vucci/AP)

By Associated Press Reporter

President Donald Trump and South Korean President Moon Jae-in have signed the first major agreement of Mr Trump’s trade agenda.

The leaders signed an update to an existing US-South Korea free-trade agreement in New York.

Both leaders are attending an annual UN gathering.

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The leaders sign the deal (Evan Vucci/AP)

Mr Trump called it a “very big deal” and said the new agreement makes significant improvements to reduce the trade deficit between the countries and create new opportunities to export American products to South Korea.

He said US cars, pharmaceuticals and agricultural products will gain better access to Korean markets.

Mr Moon said companies from both countries will be able to do business under more stable conditions.

The South Korean leader also said he hopes the revised agreement with the US will help solidify their cooperation in other areas.

Press Association

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