also this morning the white house is hailing what senior officials are calling a historic new trade deal with south korea. it overhauls the current six-year u.s./korea free trade agreement which president trump had called a job killer. among the key provisions of the revamped deal, south korea agrees to reduce its steal export foss the u.s. by nearly a third. it doubles the number of cars each u.s. automaker can export to south korea to 50,000. in return, south korea escapes the president's new 25% tariff on imported steel. cnbc editor at large john harwood joins me to talk about. the u.s. had a 22 poib 9 become $23 billion trade deficit in goods with south korea last year. is wall street buying the number that this new deal could improve that by at least several billion dollars? >> well, it could, but this is pretty low hanging fruit in terms of an additional agreement. we already had, of course, the bilateral trade agreement between south korea and the united states. and the trade deficit figure