U.S. Finalizing Trade Deal With South Korea

Council on Foreign Relations Newsletter If you are unable to see the message below, click here to view. March 28, 2018 Daily News Brief   TOP OF THE AGENDA U.S. Finalizing Trade Deal With South Korea The United States announced a revamped trade deal with South Korea (USTR) on Wednesday, soothing some economic sore points as the allies prepare for high-level talks with North Korea. The pact, which revises a deal that went into effect in 2012, is the Trump administration's first renegotiated trade agreement (Bloomberg). It allows U.S. carmakers to double their exports that only meet U.S., not South Korean, safety standards. The agreement also largely exempts Seoul from a new U.S. steel tariff (CNN), though it remains subject to a new tariff on aluminum. The countries are also expected to sign a side agreement committing to avoid devaluation of their currencies (NYT). ANALYSIS "Winning the deal may have had more to do with the geopolitical realities confronting the United States and South Korea as America embarks on tricky nuclear discussions with North Korea. The United States cannot afford a protracted trade standoff at a moment when it needs the South as an ally," Michael D. Shear and Alan Rappeport write for the New York Times. "It's not clear how the higher cap will immediately benefit American manufacturers, given that sales by American automakers currently fall well short of the new limit," write Toluse Olorunnipa and Andrew Mayeda for Bloomberg. "The U.S. will likely try to include such currency deals in its future negotiations with Japan and other trading partners," Taisei Hoyama writes for the Nikkei Asian Review. PACIFIC RIM North Korea Open to Talks With U.S., Says China Chinese state media confirmed that Kim Jong-un visited Beijing earlier this week in the North Korean leader's first foreign trip since taking office in 2011 (Bloomberg). Reports quoted Kim as saying that Pyongyang is "committed to denuclearization" (Xinhua) on the Korean Peninsula. Toby Dalton and Ariel Levite discuss realistic expectations for a Trump-Kim meeting in Foreign Affairs. MYANMAR: Win Myint, the speaker of parliament's lower house and an ally of State Counselor Aung San Suu Kyi, was chosen by lawmakers to become president following the sudden resignation of Htin Kyaw (DW) last week. SOUTH AND CENTRAL ASIA UN Chief Condemns Journalists' Deaths in India Secretary-General Antonio Guterres expressed concerned about possible "harassment or violence against journalists" (Hindu) following the deaths of three reporters struck by vehicles (Guardian) in two Indian states. TAJIKISTAN: The foreign ministry denied an allegation (Eurasianet) by the head of U.S. forces in Afghanistan that Tajikistan is used by Russia to funnel weapons to Taliban militants. MIDDLE EAST AND NORTH AFRICA U.S., Russia Narrowly Avoid Clash in Syria The chairman of the U.S. Joint Chiefs of Staff spoke to his Russian counterpart as U.S. and allied local forces neared clashing (VOA) with what Defense Secretary Jim Mattis called "Russian elements" in Syria's Deir ez-Zor Province earlier this week. SAUDI ARABIA: Crown Prince Mohammed bin Salman announced a $200 billion venture (FT) with the Japanese holding group SoftBank to create what would be the world's largest solar power project. CFR's Varun Sivaram argues that the rise of solar power is in danger of stalling in his new book, Taming the Sun. SUB-SAHARAN AFRICA Ethiopia Moves to Select New PM The ruling coalition chose Abiy Ahmed Ali (Addis Standard), head of the Oromo Peoples' Democratic Organization party, as its new chairman. The move puts Abiy on track to be named prime minister following the surprise resignation of Hailemariam Desalegn last month. KENYA: Attorney Miguna Miguna, deported to Canada after participating in a mock inauguration of an opposition leader in January, was detained at the airport in Nairobi (Buzzfeed) this week as he attempted to return to the country. EUROPE Europe Approves $6.7 Billion Bailout to Greece The eurozone's bailout fund signed off on the new loans (Reuters), which will be used to service debt, pay domestic arrears, and build up a cash buffer as Athens is expected to continue implementing economic reforms. NATO: The North Atlantic Treaty Organization announced it will expel seven members of the Russian delegation (FT) at its Brussels headquarters and deny accreditation to three others, a move that will shrink the country's presence there by a third. AMERICAS Campaign Caravan for Brazil's Lula Hit by Gunfire Buses carrying journalists and supporters of former President Luiz Inacio Lula da Silva, who plans to run for reelection if he is not deemed ineligible due to a corruption conviction, were shot at in the country's south (AP) yesterday. No injuries were reported. LATIN AMERICA: The gap between the number of private security forces and police is more pronounced in Latin America (Inter-American Dialogue) than the rest of the world, according to a new study, with law enforcement outnumbered five to one in Guatemala and seven to one in Honduras. UNITED STATES U.S. to End Protections for Liberians The Trump administration ordered a program started during Liberia's civil war in the 1990s (VOA) that shields Liberians living in the United States from deportation to end next year. This CFR Backgrounder looks at the U.S. immigration debate.         Council on Foreign Relations — 58 East 68th Street — New York, NY 10065 CFR does not share email addresses with third parties. Forward This Email | Subscribe to CFR Newsletters | Unsubscribe - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -  

From: dailybrief@e.cfr.org

Date: March 28, 2018 at 10:06PM