FACTBOX-Key points of U.S. and South Korea trade deal

(Reuters) - South Korea and the United States on Monday agreed the biggest U.S. free trade pact in 15 years.

Following are key points from the agreement.

OVERALL TARIFF CUTS

- Tariffs on more than 90 percent of trade in manufactured products and fisheries goods will be eliminated immediately.

AUTOMOBILES

- Tariffs on South Korean cars with engine size of less than 3,000 cc exported to the United States will be eliminated immediately. The same treatment will be given to South Korean auto parts shipped to the United States.

- South Korean cars with engines bigger than 3,000 cc will become duty free within three years.

- South Korea will eliminate some non-tariff trade barriers to U.S. autos, including simplifying its auto tax structure and reducing auto tax to 5 percent in three years.

AGRICULTURE