Details on the US Signing the Revised Korea-U.S. Free Trade Agreement (KORUS) Agreement
The US SIGNS REVISED KORUS AGREEMENT On Sept. 24, a revised Korea-U.S. Free Trade Agreement (KORUS) was signed by President Trump and South Korean President Moon Jae-in. Since KORUS went into effect in 2012, the U.S. trade deficit in goods with Korea increased by 75 percent from $13.2 billion to $23.1 billion (2017), while the overall deficit increased by 57 percent from $6.3 billion to $9.8 billion (2017). (NICHOLAS KAMM/AFP/Getty Images) Through negotiations to improve KORUS, the United States has secured changes that will reduce the trade deficit and ensure that KORUS is a good deal for American workers, farmers, ranchers and businesses. See below for the details of the agreement and statements from USMEF, NCBA, USDA and more. Statement by U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom: “Signing of the revised KORUS agreement is reassuring news for the U.S. beef and pork industries. The market access terms secured in the orig