The White House said that it is trying to finalize a deal with South Korea on a long-standing Free Trade Agreement before the G20 summit in Seoul on November 11. Negotiators from both countries met last week in San Francisco in an attempt to settle disputes over U.S. exports of beef and autos. The negotiators will meet over the next ten days to reach an agreement.
FoMoCo and Chrysler Group oppose the Free Trade Agreement in its current form, arguing that non-tariff barriers could still keep U.S. vehicles out of South Korea. The U.S. has asked Korea to agree to allow U.S. vehicles to enter the market if they meet U.S. emissions and safety standards.
Both sides are eager to reach an agreement conducive to opening the market to U.S. vehicles.
– By: Stephen Calogera
Source: Detroit News