WASHINGTON -- The U.S. and South Korea have agreed to revise their trade pact and include a side deal to avoid competitive currency devaluations, White House officials said Tuesday.
This is the first time for Washington to include such a currency deal in a trade agreement. The move is meant to eliminate Seoul's attempts to lower its currency rates in its efforts to expand exports. The U.S. will likely try to include such currency deals in its future negotiations with Japan and other trading partners.
