Korea-U.S. FTA

This week's FTA discussions

The U.S. and Korean trade chiefs meet near Washington tomorrow and Wednesday to work towards resolution of the issues left over from the G-20 summit in Seoul.  The U.S. is pressing Korea to give ground:

The talks are on for Tuesday

Kim Tong-hyung: "Korea, US to resume FTA talks", Korea Times.  For two days, starting Tuesday, November 30, in Columbia, Maryland.

No date yet for renewed negotiations

Korea and the U.S. have plenty to think about right (North Korean Shells Shatter Illusions of Security as Wargames Turn Deadly).  Korea's deputy minister of Foreign Affairs and Trade says that a date hasn't been set yet to renew the negotiations:

The Koreans aren't just going to give away concessions on autos and beef,

... they're going to want something in return.

The Dong-a Ilbo (New strategies prepared for next month`s FTA talks with US) reports that on Wednesday in Seoul, "a high-ranking official at the Korean Foreign Affairs and Trade Ministry" gave some hints about the Korean wish list:

The new plan is known to include the protection of Korea’s relatively vulnerable pharmaceuticals and agricultural markets. On pharmaceuticals, Seoul will ask Washington to delay by 18 months a ban on the sale of reproduced American drugs in Korea before the patents expire for the original drugs.

The Korean government will also strengthen safeguard measures for agricultural products.

In addition, adjustment of what Korean opposition parties call “poison pill” clauses is under review. These include the negative list system for services allowing the opening of all service products except those specifically prohibited and a ratchet clause that bars going back to pre-free trade deal days.

Seoul, however, will not exclude the maligned investor-state dispute settlement clause, which allows a private investor to legally challenge a host government`s public policy.

Is the U.S. KORUS FTA agenda expanding?

We were trying to get concessions from the Koreans on autos and beef.  Are we about to go after concessions on autos, beef, labor, investment, finance, targeted tariff reduction for small and medium manufactures, and more focus on trade deficit reduction: The Korea - U.S. FTA: Negotiating with Congress.

Sarah Palin...

...endorses the KORUS FTA, and free trade in general: SARAH PALIN: An Open Letter to Republican Freshmen Members of Congress:

Kevin Brady

Kevin Brady of Texas, who is likely to  be the new chair of the House Ways and Means Committee Subcommitte on Trade, has a good record on opposition to trade barriers: he voted on the right side of the trade barrier votes tracked by the Cato Institute 82% of the time.

He's also had nice things to say trade with other nations:   Key House Republican Plans Aggressive Push For Trade Deals.  But this statement from last Thursday (November 11) suggests he likes the idea of pressing Korea for additional auto and beef concessions:

Washington, DC - U.S. Congressman Kevin Brady, the top House Republican on the Trade Subcommittee of the Committee on Ways and Means, released the following statement related to the U.S.-South Korea trade agreement negotiations:

"I am disappointed that the outstanding auto and beef issues surrounding the U.S.-South Korea trade agreement have not been resolved. I hope that these issues can be resolved quickly and sufficiently so we can take full advantage of the market opportunities that this agreement presents for the United States." ...

Did Obama jump, or was he pushed?

Scott Lincicome wonders who was responsible for the FTA "debacle" in Seoul - does the fault lie with Obama, or with Congressional pressure:  Did Congressional Pressure, not White House Incompetence/Politics, Really Derail the KORUS?

Back to square one in the National Assembly?

The Korean National Assembly's Committee on Foreign Affairs and Trade approved the KORUS FTA in April, 2009, clearing the way for consideration by the full National Assembly.  That's as far as its gotten.

Now the Assembly's research arm asserts that:

Camp's thoughts on the FTA

The Ways and Means Committee is the key House committee for the FTA.  The next Ways and Means Chair is likely to be Republican David Camp of Michigan, and he wants more on autos.