The Motion Picture Association is celebrating a major update following a formalized trade agreement between the U.S. and South Korea.
After the White House released details regarding President Trump and President Lee’s recent meeting, where the two leaders locked down specifics for the prior July trade agreement, the MPA thanked the “U.S. Trade Representative and his team” for resolving issues that directly impacted Hollywood.
“We welcome today’s announcement following the meeting between President Trump and President Lee that the United States and the Republic of Korea have committed to ‘ensure that U.S. companies are not discriminated against and do not face unnecessary barriers in terms of laws and policies concerning digital services, including network usage fees,’” Charles Rivkin, Chairman and CEO of the Motion Picture Association, said in a statement Friday. “The MPA appreciates the tireless work of the U.S. Trade Representative and his team to resolve unfair trade practices that impact the American film, television and streaming industry.”
Per the White House, the deal also promised “to facilitate cross-border transfer of data, including for location, reinsurance and personal data. Further, the United States and the ROK will support the permanent moratorium on customs duties on electronic transmissions at the World Trade Organization.”
The MPA isn’t the only one celebrating in the aftermath of the Trump-Lee meeting. Ambassador Jamieson Greer, who was appointed the 20th United States Trade Representative earlier this year, praised Trump and his “winning streak.”
“President Trump’s winning streak following his successful swing in Asia continues with the release of a Joint Fact Sheet with the Republic of Korea, underscoring the United States’ commitment to achieve more reciprocal and balanced trade with a strong trading partner,” the ambassador wrote in a statement. “Korea committed to address non-tariff barriers that U.S. exporters face, further promoting economic prosperity and national security for Americans. The leaders also agreed to advance significant investments in key industries such as shipbuilding and to strengthen strategic commercial partnerships.”
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