ISDS Case Map
US
It happened right after the signing of the Uruguay Round Agricultural Agreement on Dec. 15, 1993. At the time, opposition parties and farmers’ groups raised strenuous objections to the outcome of the negotiations. They asked the government if it was possible to enter new negotiations and revise the plan for market opening. They were asking for a bit more time for Korean farmers to prepare. The response from government officials was adamant: “Not a single dot or line can be revised.”
Korea and the United States have extended their talks on a pending free trade deal by at least one more day in a last-minute effort to reach an agreement.
Leaked diplomatic cables on WikiLeaks showed that the governments of South Korean and the United States have been working in tandem to push ahead the free trade agreement despite opposition from US business circles.
South Korea will focus on autos and is not ready to discuss beef during the upcoming talks with the United States for the ratification of a pending free trade deal, the chief South Korean trade negotiator said Monday.
Last week, the Wall Street Journal assembled nearly 100 chief executives of large companies for a day and half to discuss the policy choices facing the US and the effects those choices may have on business and the economy. Their recommendations have something to take note by Indian exporters and policy makers.
It remains to be seen whether beef will continue to be the deal breaker.
The Korea FTA would lift live US hog prices by $10 per animal and generate an additional $687 million in US pork exports, the National Pork Producers Council argues.
Both sides “are having a difficult time figuring out what the options are, given the damage that was done in Seoul” by not sealing a deal, Jeffrey Schott of the Peterson Institute says. “They’ve created a real mess.”
Korea will prepare new strategies -- said to include the protection of Korea’s relatively vulnerable pharmaceuticals and agricultural markets -- before resuming free trade talks with the US next month in Washington,
Korea's trade minister has admitted to parliament for the first time that US demands on the Korea-US FTA amount to re-opening the already agreed text.
