The American auto industry and lawmakers representing the auto sector have made “nonnegotiable” complains about the Korea-U.S. Free Trade Agreement (KORUS FTA). They have showed disagreements over a wide range of FTA provisions, indicating a bumpy road ahead to be ratified.
A senior U.S. congressman demanded a full re-negotiation of a proposed South Korea-U.S. free trade agreement (FTA) Wednesday, charging that the deal as it stands consents to one-way trade in Seoul's favor.
A panel of government trade experts was told in Washington today that approval of the US-Korea free trade agreement (FTA) would lead to new overseas demand for a wide range of US goods and services, in particular financial services.
Thousands of South Korean farmers rallied Wednesday to denounce a free trade agreement with the United States, as officials from the two sides prepared to discuss amending the hard fought deal ahead of its expected signing later this month.
An umbrella labor association of the South Korean metalworkers vowed Tuesday to stage a strike next week to block the parliament's ratification of a free trade agreement (FTA) with the United States.
Responding to intense and widespread opposition from both US and Korean workers, a bipartisan coalition of lawmakers is trying to stop the Bush government's proposed "free trade" pact with South Korea.
Call it the GCC effect. Apprehending stiff competition for the domestic petroleum industry - which has significant public sector presence - once India signs a free trade agreement with the Gulf Co-operation Council (GCC), the petroleum ministry has opposed inclusion of tariff cuts on petro products in the comprehensive economic partnership agreement (CEPA) being negotiated with South Korea.
The US has officially requested additional negotiations on an already concluded free trade agreement with Korea. It wants to renegotiate seven sectors -- labor, environment, essential security, pharmaceuticals, government procurement, harbor safety and investment. But critical issues that could hurt the balance of negotiations like cars and the inter-Korean Kaesong Industrial Complex are not on the agenda, the government believes.
The United States has proposed revisions for a free trade agreement with South Korea to reflect Washington's new guidelines that call for stricter labor and environmental standards, officials said Saturday.