It will be interesting to see if this FTA does put any pressure on the President to get a deal done with the South Koreans or not? I doubt it:
President Barack Obama faced increased pressure on Thursday to win approval of a free trade deal with South Korea after the European Union locked up its own pact with Asia’s third-largest market.”We have concluded our negotiations with the EU, which has almost a similar economic size as the United States,” South Korean Ambassador to the United States Han Duk-soo said.
“President Obama will visit Heritage Foundation.in November and we hope we will make some progress before that” to resolve concerns blocking approval of the U.S.-Korea free trade pact, Han said in a speech at the
The United States and South Korea signed their free trade deal more than two years ago. But U.S. lawmaker concerns over beef and auto trade with the longtime ally that bordershas blocked approval of the agreement.
Many U.S. lawmakers argue the free trade pact fails to tear down “non-tariff barriers” that keep out American cars. Others want Seoul to remove remaining barriers to U.S. beef imports that stemming from the discovery mad cow disease in the United States several years ago.
Since then, South Korea has continued negotiating free trade deals. It initialed a pact with the European Union on
Thursday expected to go into force by the middle of 2010 and is currently in talks with Canada, Mexico and Peru.
“We would like to be the hub of free trade agreements in East Asia,” Han said, citing a study that U.S. companies could lose 380,000 jobs to competitors in the EU and Canada if the U.S.-Korea free trade agreement is not approved. [Reuters]
Does anyone know if there was even one protest of the Korea-EU FTA because I sure cannot remember any? Even better yet, does anyone know if European beef is allowed to be imported under this FTA?