# US and South Korea to revise trade pact with currency side deal

> The US and South Korea agreed a revised trade pact that gives Korea relief from US steel tariffs, though its steel exports to the US are expected to fall about 30 percent and it remains subject to a 10 percent aluminum tariff. The deal also extends the 25 percent US tariff on pickup trucks for 20 years and doubles Korea's import cap for US-spec autos to 50,000 per manufacturer. A side letter commits Seoul to more transparency on FX intervention and to avoid won devaluation for competitive purposes.

- Date: 2018-03-28 · published 2018-03-28T12:00:00.000Z
- Category: trade · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/66224-us-and-south-korea-to-revise-trade-pact-with-currency-side-deal
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

The revision concerns steel, autos and pickups rather than feed ingredients, so direct effects on feed commodity flows are minimal. The currency side letter could limit won weakness, which is a marginal consideration for Korean feed importers' costs.

## Sources

- cnbc.com: https://www.cnbc.com/2018/03/27/us-and-south-korea-to-revise-trade-pact-with-currency-side-deal.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.