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Feds Begin Implementing US-Korea Trade Plan

WASHINGTON (CN) - U.S. Customs and Border Patrol has issued interim regulations implementing the preferential import tariffs under the US-Korea Free Trade Agreement.

The regulations specify the procedure for claiming preferential treatment under the agreement for goods originating from South Korea.

Originally negotiated in 2007, the agreement languished until the Obama administration started a new round of talks to secure better access for U.S. firms to the Korean services and auto-manufacturing sectors in 2010.

The agreement officially went into force on March 15.

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