South Korea has become the first nation to be permanently exempted from President Donald Trump’s steel and aluminum tariffs as part of a newly renegotiated free trade agreement between the two countries announced today. The Trump administration has used the possibility of tariffs as leverage in other trade issues as well, such as renegotiating the North American Free Trade Agreement with Canada and Mexico. Or, in the case of China, perhaps seeking better access to its auto and financial services market. How does Trump’s approach differ from that of previous administrations?

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