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U.S., South Korea strike a new trade deal

WASHINGTON — The United States and South Korea have reached agreement on a new trade pact, the White House said on Tuesday. "We have come to an agreement in principle, and we expect to roll out specific details on that very soon," White House spokeswoman Sarah Sanders told a briefing. Her comments were the Trump administration's first confirmation that the two sides had reached an agreement in trade talks covering revisions to the U.S. South Korean Trade Agreement (KORUS) and a South Korean exemption from new U.S. metals tariffs. Seoul on Monday announced a deal to limit exports to the U.S. of South Korean steel, while extending high U.S. tariffs on any possible South Korean pickup trucks and increasing U.S. automakers' access to the Korean market. But details of the agreement have not yet been released by the U.S. Trade Representative's office, which led the negotiations for the United States after President Donald Trump last year called the 6-year-old bilateral pact a "horrible deal" that had doubled the U.S. trade deficit with South Korea since 2012. The deal is expected to permanently exempt South Korea from Trump's tariffs of 25 percent on steel and 10 percent on aluminum, but South Korea will have to reduce its steel exports to the United States by 30 percent from its average over the past three years to about 2.68 million tons. South Korea was the third largest steel exporter to the United States last year after Canada and Brazil. The agreement also was expected to double South Korea's import quota for cars meeting U.S. safety standards — not necessarily Korean standards — to 50,000 per manufacturer per year from 25,000 previously. The big challenge now would be getting unimpressed Korean consumers to buy them. The 25 percent U.S. tariff for pickup trucks, which was due to begin a phase-out starting in 2019, would be extended for another 20 years, according to South Korean officials. This would virtually ensure that any pickup truck contemplated by Korean automakers Hyundai or Kia for the U.S. market would be built in the United States.Reporting by Ayesha Rascoe and David LawderRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Reuters Government/Legal Hyundai Kia

2019 Hyundai Veloster shows off its colorful new face

The next-gen Hyundai Veloster is coming soon. When I was in Korea for the launch of the new Hyundai Kona, all three variants — standard, Turbo and N — were trotting around the automaker's proving grounds, teasing and laughing at us since we weren't allowed to use our cameras. After some sleuthing, we uncovered some new info. Thanks to the automotive media back in Korea, we have what appears to be official images of the new Veloster Turbo done up in some of the best-looking camouflage we've seen in a long while. The car will make its full debut at the Detroit Auto Show in January. It seems the car was shown off to the Korean press at Inje Speedway in Gangwon Province. The car retains the same basic three-door layout of the old model. That means two doors on the passenger side and one for the driver. The shape may be generally the same, but the car looks far cleaner than before. It's as if Hyundai's designers smoothed out all the lines and pulled the bodywork tighter to the frame. Like before, the exhaust appears to exit from the center, though the N model I saw in Korea and in spy photos has a more traditional dual-exit exhaust pipe. Floating red-painted calipers appear to clamp on some pretty large rotors. There appear to be two wheel designs, too. There aren't any photos of the interior, but once again our spy photographers have come through. The press release we found also lists a new heads-up display. Since these photos came from Korea, we contacted representatives at Hyundai here in the U.S. for more info, but weren't given any clear answers. All we were told was that the images came from their counterparts in Korea. Expect the Veloster Turbo to share the 201-horsepower turbocharged 1.6-liter inline-four and transmissions from the Elantra GT Sport. Korea apparently gets a 1.4-liter engine, but it's unclear if that's coming here. We hope the hopped-up Veloster N will get the 271-horsepower turbocharged inline-four from the i30 N. Hyundai has been on a killer roll as of late. We can't wait to drive this. Related Video:

BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.