South Korea's trade minister has revealed that Seoul has reached an agreement with the U.S. to amend their free trade deal.<br />Kim Hyo-sun reports. <br /> After returning from the U.S. on Sunday,... South Korea's trade minister Kim Hyun-jong said Seoul and Washington had reached a settlement on revising the bilateral trade pact and steel tariff issues.<br /><br /> "An understanding on the FTA and steel tariffs was reached in principle with the U.S."<br /><br />Kim, Seoul's point man on the trade talks, explained that uncertainties on the steel tariff issue were effectively eliminated,... thereby enabling Korean steel products to continue entering the U.S. market. <br /> He also stressed that Seoul was able to defend its red line on agricultural goods,... making clear there will be no further opening of the domestic market.<br />Saying the two allies have to iron out some technical matters on the working level,... Kim added the results of the negotiations will be announced after a Cabinet meeting on Monday.<br /> U.S. Treasury Secretary Steven Mnuchin told Fox News that the two allies reached a very productive understanding on the FTA revision and steel tariffs.<br />Describing the agreement as an absolute win-win,... he said Seoul will reduce the amount of steel shipped to the U.S.<br /> Such messages from both parties signals Seoul and Washington could soon finalize their amendments to the six-year-old bilateral trade deal..<br />Kim Hyo-sun, Arirang News. <br />
