U.S. South Korea Free Trade Agreement
April 3, 2007 by Splatty
Filed under Misc Logistics
The U.S. and South Korea agreed to trade terms just before the decision deadline.
Via Yahoo News:
The deal to cut tariffs and remove trade barriers follows nine months of talks and sometimes violent protests in South Korea, mostly over fears that heavily subsidized farmers could not survive a flood of cheaper U.S. farm products.
But some U.S. politicians and businesses slammed the deal just hours after it was agreed, saying the pact doesn’t do enough to boost U.S. auto and beef exports. Differences remained, too, in U.S. and Korean accounts on exports from an industrial park just inside North Korea.
Initial estimates are that the deal could add an additional $20 billion worth of trade annually between the two countries.
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