Trump Touts New 'KORUS' Deal With South Korea

President Donald Trump on Wednesday exulted the announcement of his free trade agreement with South Korea, calling it "a great deal for American and Korean workers."

The new deal doubles — to 50,000 — the cars each U.S. automaker can export annually to South Korea and extends a 25 percent U.S. tariff on South Korean pickup trucks by 20 years, through 2041.

South Korea escapes America's new 25 percent tariff on imported steel — but must accept quotas on steel exports equal to 70 percent of its average annual shipments to the United States between 2015 and 2017.

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