US, South Korea reach highly coveted trade deal

• The U.S. and South Korea have reached an agreement on America's largest trade pact in more than a decade.
• President Barack Obama calls it a "landmark trade deal" that would support at least 70,000 U.S. jobs.
• Although the agreement does not address issues with the beef trade, another sticking point, a senior administration official says those discussions are ongoing.
• The agreement also would eliminate tariffs on more than 95 percent of industrial and consumer goods within five years. The U.S. International Trade Commission estimates that would increase exports of U.S. goods by at least $10 billion.
• The pact must still be ratified by lawmakers in both countries.