SEOUL ANNOUNCES MORE TARIFF CUTS FOR U.S.
  South Korea will cut import taxes on 50
  goods, including construction equipment, cigarettes and
  tobacco, to help reduce its trade surplus with the United
  States, the Finance Ministry said today. The tariff cuts of
  between five and 30 pct will take effect on July 1.
      South Korea ran a trade surplus of 7.3 billion dlrs with
  Washington in 1986, sharply up from 4.3 billion in 1985.
      Today's announcement brings to 157 the number of goods for
  which similar measures were taken this year, a ministry
  official said. The 157 are among about 290 items on which
  Washington has asked Seoul to lower tariffs.
      "This is in line with the government's policy to limit our
  trade surplus with the United States to help reduce trade
  friction between the two countries," said the official.
  

