Does anyone have any bets on when this FTA will ever be done?:
The U.S. government has been reviewing concerns expressed by America’s auto industry in relation to the Korea-U.S. free trade agreement and is drawing up a related proposal, the Federation of Korean Industries said in a release yesterday.
The move is an apparent sign that the U.S. government is likely to pursue further negotiation with Korea over auto trade issues, observers said.
During the 22nd Korea-U.S. Business Council meeting in Los Angeles, California, last week, Wendy Cutler, the assistant U.S. trade representative, said that the government is examining the findings of a survey of companies and related organizations that was conducted between July 27 and Sept. 15 of last year.
The Office of the U.S. Trade Representative is “reviewing the concerns raised in the survey in relation to the FTA, including auto trade issues,” Cutler said.
The U.S. government has repeatedly stated that the Korean auto market is still too closed off to foreign automakers and called on the country to make concessions in this area before the United States ratifies the free trade agreement, which the two countries tentatively agreed to in 2007. Several issues regarding the imbalance in auto trade and Korea’s beef imports from America have been obstacles to a final ratification by the U.S. Congress. [Joong Ang Ilbo]
Read the rest but the Korean government is saying they are not going to change the agreed upon FTA. It seems to me the Korean government has decided that they will just wait and see what happens after the 2010 Congressional elections in the US and see if a new Congress more friendly to signing the currently proposed FTA will emerge.