blogs  
 
yournews
   
 
Video Photos Finance Travel Weather Discussion TV Shows
| |
 
  Home ›
 
Business News

 

US says SKorea trade deal "within reach"
Posted: 06 November 2009 1123 hrs

  Seoul skyline
 
Photos  of

   
 


WASHINGTON : The top US trade negotiator said that finalizing a trade deal with South Korea was "within reach" but gave no timeline as he sought greater access for US automakers.

President Barack Obama is expected to discuss the deal when he visits Seoul on an Asia trip starting next week. Obama as a senator opposed the draft accord sealed in 2007 and ordered a review after entering the White House.

Speaking before the US-Korea Business Council, US Trade Representative Ron Kirk said he remained concerned that US automakers have a minuscule presence in Asia's fourth largest economy.

"America's market is completely open to Korean autos and all we're asking is for the same for America's automotive industry -- to be able to compete on a level playing field in the Korean market," Kirk said.

"We believe, though, that that level playing field is possible and that it's within reach," he said, adding that the Obama administration was "working diligently" on proposals to present to Seoul.

South Korea imposes an eight percent tariff on US auto imports. The draft deal would phase it out but US automakers and auto unions have been pushing for greater openness at a troubled time for Detroit's Big Three.

South Korean negotiators say that the country's consumers simply do not like US cars.

South Korea is keen to avoid reopening talks on the trade deal, which triggered major protests that highlighted fears over the safety of US beef.

Myron Brilliant, the outgoing head of the US-Korea Business Council, appealed for quick passage of the deal, complaining that US businesses were at a disadvantage as South Korea recently sealed a trade pact with the European Union.

Kirk acknowledged that many business leaders before him were growing impatient but said that the Obama administration wanted to engage in an "honest dialogue" with the public on trade.

"President Obama and I are very much concerned that it's time that America begin to pay atention to those who have been critical or may not be as strong believers in our trade policy," Kirk said.

- AFP/vm

 


Other business News
Eurozone sets conditions for Greek bailout
Australian central bank cuts growth forecasts
China releases Jan trade data
Asian markets slip on Greece bailout fears
Flights back to normal Friday after strike: Air France
Barclays bank reveals drop in profits, cuts bonuses
Hong Kong faces labour shortage
M'sia trade expected to grow at slower pace
Euro edges up as Greece inks reform deal
US stocks gain on Greece, bank mortgage deal
Oil prices rise on Greek deal
Eurozone stalls Greek cash aid pending new conditions
Banks agree US$25b deal for US homeowners
China says January exports expected to have dropped
Greece says agreement reached on austerity measures: ECB
ECB holds key interest rate steady at 1.0%
OPEC cuts 2012 oil demand forecast
China's January inflation hits 3-month high
Spain's economy to worsen in Q1
Indonesia cuts interest rate to record low
Malaysia sees record trade in 2011
Rio Tinto earnings down 59% on aluminium write-down
Asia stocks mixed on Greek fears, China inflation

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions