U.S.-South Korea trade pact nears with tariff deal

By Reuters
Posted Dec. 3, 2010 at 1:32 p.m.

South Korea has agreed to give the United States five years to phase out a 2.5 percent tariff on Korean-built cars, rather than cut the tariff immediately, clearing the way for a deal on a stalled U.S.-South Korea trade pact, the Wall Street Journal reported on Friday.

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