Free-Trade Pact With South Korea Still Not Finished
Free-Trade Pact With South Korea Still Not Finished - NYTimes.com The trade accord, an update of the one the Bush administration negotiated and signed in 2007 under so-called fast-track authority that has since expired, has languished in the Democratic Congress. Mr. Obama, though, has thrown his weight behind it — while calling for some technical modifications that would be more favorable to American automakers and industrial unions — and with Republicans soon to take control of the House of Representatives, he has a better chance of getting it through. ... The biggest sticking point involves auto imports. In Washington, the Democratic leadership has been pushing forcefully for lower nontariff barriers to American exports of cars to South Korea, and for eased restrictions on American exports of beef, which has been a source of controversy since an outbreak of mad cow disease in 2003. While the agreement would lower or eliminate tariffs on cars in both countries, the Obama administrat...