trending Market Intelligence /marketintelligence/en/news-insights/trending/65ngdokyca9govfsgysa0w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

US, South Korea reach agreement on trade, steel tariffs

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


US, South Korea reach agreement on trade, steel tariffs

The U.S. and South Korea have reached an agreement to renegotiate a six-year-old bilateral trade deal and U.S. tariffs on imported steel, Bloomberg News reported March 25, citing U.S. Treasury Secretary Steven Mnuchin.

U.S. Trade Representative Robert Lighthizer reached "a very productive understanding" with the Asian country on the tariffs to cut imports and the trade deal known as Korus. "South Korea will reduce the amount of steel that they send into the U.S. as a part of this," Mnuchin said.

Kim Hyun-chong, South Korea's trade minister, confirmed that the two countries have "reached an agreement in principle" on the trade deal and the U.S. steel tariff issue, The Korea Herald reported separately. Seoul is planning to announce the results of the negotiation March 26.

Kim added that South Korea did not make concessions to further open its agricultural market to U.S. exporters, which he described as a "red line."

In terms of the mandatory use and origins of automobile parts, the U.S.' request was not reflected and the removal of tariffs settled in the previous negotiation stays the same, Kim said. During a renegotiation of the North American Free Trade Agreement with Canada and Mexico, the U.S. had requested the use of 50% of U.S.-made parts and a list to trace the origins of car parts. The U.S. reportedly asked for a similar measure from South Korea.

South Korea's trade surplus with the U.S. declined to $18 billion in 2017 from $23 billion in 2016, Bloomberg noted, citing the Korea International Trade Association. Cars accounted for more than 70% of the value of the surplus.