Tradelines News

Get the latest news and updates on cross-border customs and international trade.

U.S. Sees ‘Much Work’ to Revising South Korea Free-Trade Pact

Posted January 08, 2018

Under Economic Issues, International Trade Issues

(Heejin Kim & Kim Chipman)

Officials from the U.S. and South Korea said further talks were needed to revise their free-trade pact, a negotiation straining ties between the allies as they grapple with Kim Jong Un’s growing nuclear-weapons threat.

The U.S. presented proposals to improve auto exports and lift trade barriers during a meeting with South Korea counterparts Friday in Washington, Trade Representative Robert Lighthizer said in a statement. While both sides agreed to hold more talks soon, South Korea’s top negotiator, Yoo Myung-hee, said afterward that “the negotiation is not easy,” according to Yonhap News.

“We have much work to do to reach an agreement that serves the economic interests of the American people,” Lighthizer said. “We must achieve fair and reciprocal trade between our two nations.” Click here to read more.