HOUSE_OVERSIGHT_028378.jpg

thousands of manufacturing workers across America.a€", "type": "text"}, {"bannerType": "any", "identifier":" anf-banner advertisement 2","layout": "ComponentLayout- 4","role":"banner advertisement", "type":"banner advertisement"}, {"additions":[{"URL™:"h ttps://www.bloomberg.com/news/articles/2018-04-03/south-korea-india-cut-trad surpluses-with-u-s-as-trump rails", "range": {"length":32,"start":217},"type":"link"}],"identifier":" anf-body- 15","inlineTextStyles":[{"range":{"length":451,"start":0},"textStyle":" anf-ts- i"},{"range":{"Llength":451, "start":0}, "textStyle":" anf-ts-1"}],"layout":"default- body", "role": "body", "text": "The United Statesae™ trade deficit in goods and services with South Korea had already been falling before the agreement was signed, to just above $9 billion last year from just under $17 billion in 2016, as the country increased purchases of machinery, liquefied natural gas and other goods from America. South Korea was also among the countries subjected to steel and aluminum tariffs, making those metals less lucrative to export to the United States.","type™:"text"}, {"additions"™: [{"URL":"https://ustr.gov/about-us/policy- offices/press-office/fact-sheets/2018/march/new-us-trade-policy-and- national", "range": {"length":11,"start":101},"type":"link"}],"identifier"™:" anf-body- 16","inlineTextStyles":[{"range":{"length":251,"start":0},"textStyle":" anf-ts- i"}, {"range™: {"length":251,"start":0},"textStyle":" anf-ts-1"}],"layout":"default— body", "role":"body", "text":"The trade deal will exclude South Korea from the steel tariffs, in exchange for that country capping its exports to the United States at 70 percent of the average of its export levels from 2015 through 2017. Korea will still face the aluminum tariffs.","type™:"text"}, {"additions"™: [{"URL":"https://apple.news/Ac4MflpdbTWGKFPgeVvsa so", "range": {"length":30,"start":287},"type™:"link"}],"identifier":" anf-body- 17","inlineTextStyles":[{"range":{"length":471,"start":0},"textStyle":" anf-ts- i"}, {"range"™:{"length":471,"start":0},"textStyle":" anf-ts-1"}],"layout":"default- body", "role": "body", "text": "The revised agreement also lacks the robust a€eside deald€ on currency manipulation that administration officials said would be included to prevent South Korea from weakening its currency, the won. Currency devaluation, as it is called, has been of particular concern to Mr. Trump, who has accused other trading partners, like China and the European Union, of trying to weaken their currencies so that Americans using the United States dollar can buy more of their products.","type™:"text"}, {"additions": [{"URL":"https://www.npr.org/2018/03/28/59755672 7/trump-administration-strikes-major-trade-deal-with-south korea", "range": {"length":17,"start":261},"type":"link"}],"identifier":" anf-body- 18","inlineTextStyles":[{"range":{"length":381,"start":0},"textStyle":" anf-ts- i"}, {"range™: {"length":381,"start":0},"textStyle":" anf-ts-1"}],"layout":"default-— body", "role": "body", "text": "a€eWede™re going to be able to defend ourselves against currency undervaluations because, as part of this deal, theread€™s a very nice side deal agreement that the secretary of Treasury is negotiating over currency undervaluation, 4€ Peter Navarro, a top trade adviser, told NPR in March. Mr. Navarro added that the currency agreement is d€cea benchmark for what wea€™ll be doing going forward.a€", "type": "text"}, {"bannerType": "any", "identifier":" anf-banner advertisement 3","layout":"ComponentLayout- 4","role":"banner advertisement", "type":"banner advertisement"}, {"additions": [{"URL™:"h ttps://ustr.gov/sites/default/files/files/Press/Releases/KORUS%20Texts%200utcomes.pdfi", "range": {"length":31,"start":89},"type":"link"}],"identifier":" anf-body- 19","inlineTextStyles":[{"range":{"length":424,"start":0},"textStyle":" anf-ts- I"},{"range™: {"length":424,"start":0},"textStyle":" anf-ts-1"}],"layout":"default-— body", "role":"body", "text":"That side deal has yet to materialize. In August, the United States trade representative published the a4€eagreed outcomesd€ from its negotiations with the Koreans: 24 pages of technical language and correspondence between officials from both countries, including agreements on American auto and prescription drug exports and Korean textil xports. There is no mention of currency in the agreement, or of any pending side deal.","type":"text"},{"identifier":" anf- body-20", "inlineTextStyles": [{"range":{"length":395,"start":0},"textStyle":" anf-ts- i"}, {"range™: {"length":395,"start":0},"textStyle":" anf-ts-1"}],"layout":"default-— body", "role":"body", "text":"In a fact sheet released Monday afternoon by the White House, Trump administration officials said that d€eoutsidead€ the Korea pact, dA€cethe Treasury Department has an understanding with South Korea to avoid competitive devaluation and practices that provide an unfair competitive advantage. The understanding includes strong commitments on exchange rate practices, robust transparency, and reporting.a€","type"™:"text"}, {"identifier":" anf-body- 21","inlineTextStyles": [{"range"™:{"length":135, "start":0},"textsStyle":"_ anf-ts- i"}, {"range™:{"length":135,"start":0},"textStyle":" anf-ts-1"}],"layout":"default- HOUSE_OVERSIGHT_028378