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US, South Korea Reach Free Trade Deal


U.S. and South Korean officials say they have reached a free trade agreement after almost 10 months of negotiations.

The trade deal would be the biggest for the United States since the North American Free Trade agreement signed in 1992. It also would also be South Korea's largest trade agreement to date.

U.S. and South Korean negotiators finalized the deal Monday morning after meeting through the night in Seoul. U.S. officials must send the agreement to Congress Monday to give Congress the 90-day period required for it to review the deal.

President Bush's special authority to "fast-track" the deal through Congress without amendments expires June 30.

Reports say negotiators overcame disagreements on several key market sectors, including automobiles and agricultural goods.

Some information for this report provided by AP, AFP and Reuters.

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