U.S. Lands Trade Deal With S. Korea

Remember when President Obama left South Korea empty-handed without a trade deal a few weeks ago? He’s finally locked it down. U.S. and South Korean negotiators agreed to a free-trade deal Friday that the administration says will increase American exports to South Korea by billions of dollars annually. The deal was originally negotiated by the George W. Bush administration three years ago, but was put on the back burner by Congress. Although the full details of the agreement are not expected to be released until later, sources familiar with the talks said that it will help the U.S. auto industry by instituting provisions that will make it easier for U.S. manufacturers to sell in the South Korean market.