is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist

U.S.-South Korea Trade Talks Near Deadline

The two countries are pressing forward on a free trade deal before the March 31 deadline.

With the March 31 deadline fast approaching, South Korea and the U.S. are pushing to finish a free-trade deal this week.

The two countries have been working on trade negotiations for nearly a year. Agricultural issues have been a major sticking point, as South Korea wants to protect its rice farmers and Washington is asking for an open market for U.S. beef.

Lawmakers in both countries would need to ratify any trade deal struck this week, a process which could take months. Currently, under President Bush's Trade Promotion Authority, the Administration can send a trade deal to Congress for an up or down vote with no amendments. However, that authority is set to expire this summer, and without it, any trade deal is not likely to escape Congress.

The deal faces opposition from many South Koreans who fear imports of cheaper U.S. goods would cost South Korean jobs. Around seven thousand protested the deal on the streets of Seoul Sunday.

The two countries already do more than $75 billion in trade.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish