Graphic shows bilateral trade between Central American countries and South Korea in 2016.
BUSINESS
Central America-South Korea trade deal
By Duncan Mil
February 21, 2018 - South Korea and five Central American countries have signed a free trade deal to gradually eliminate duties on over 95 percent of goods within the next ten years.
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The South Korean trade ministry said it expects the deal to help South Korea gain an advantage over other Asian countries such as China and Japan, as Seoul is the first Asian country to sign an agreement with the five Central American nations.
The deal comes as the Trump administration has slapped a 53 percent tariff on South Korean steel, tariffs of up to 50 percent on large washing machines and up to 30 percent on solar panels.