Italy will veto a free-trade deal between the European Union and South Korea unless changes are made or the implementation of the agreement is pushed back a year, the junior minister for foreign trade warned on Tuesday.
Korea yesterday denied a U.S. media report that it planned to make new “concessions” to secure the ratification of the Korea-U.S. free trade agreement from the U.S. Congress.
South Korea, China and Japan will hold a second joint study meeting next month on the feasibility of a free trade agreement (FTA) among the three Northeast Asian countries, Seoul's trade ministry said Wednesday.
It is no secret that one of the final sticking points in the Korea-U.S. FTA is the alleged Korean non-tariff barriers (“NTBs”) in the automobile sector. The United States takes the position that the enormously low penetration of the U.S. automobiles into the Korean market can only be explained by NTBs.
US beef exports to South Korea rose sharply during the first six months of the year, industry sources said Monday, with some politicians demanding the restricted shipment of beef be addressed before the ratification of the pending free trade deal with South Korea.
The South Korean ambassador to the United States will meet with top executives at Ford Motor Co. and Chrysler Group LLC on Wednesday during a day-long visit to Detroit to discuss a contentious free trade agreement.