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Gulo Blue
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http://fortune.com/2018/09/25/us-south-korea-trade-deal-trump-korus/
A lot of the Woodward book is about Trump wanting to get out of our trade agreement with South Korea and the efforts of his staff to prevent that from happening. He's renegotiated.
South Korea will reduce the amount of steel they send us by 30%. They are one of our biggest suppliers. 30% of South Korean steel represent 3% of the total amount of steel we import. Probably in the ballpark of $600 M dollars worth of steel. I could be off by a factor of 2 one way or the other though. In exchange, we're exempting them from the 25% tariff. US Steel's stock is up 2.1%
Some of it won't have much practical impact. There are rules allowing us to ship Korea more cars that meet our standards rather than theirs, but only 1% of the Korean car market is imported from the US and that's not likely to change. We don't hit the current allotments, so upping the allotment won't have any impact. I don't see a clear reaction in automaker stock prices.
They are also going to include more US drugs in their health care plan. I'm not sure how big a deal that is.
A lot of the Woodward book is about Trump wanting to get out of our trade agreement with South Korea and the efforts of his staff to prevent that from happening. He's renegotiated.
South Korea will reduce the amount of steel they send us by 30%. They are one of our biggest suppliers. 30% of South Korean steel represent 3% of the total amount of steel we import. Probably in the ballpark of $600 M dollars worth of steel. I could be off by a factor of 2 one way or the other though. In exchange, we're exempting them from the 25% tariff. US Steel's stock is up 2.1%
Some of it won't have much practical impact. There are rules allowing us to ship Korea more cars that meet our standards rather than theirs, but only 1% of the Korean car market is imported from the US and that's not likely to change. We don't hit the current allotments, so upping the allotment won't have any impact. I don't see a clear reaction in automaker stock prices.
They are also going to include more US drugs in their health care plan. I'm not sure how big a deal that is.
