The trump administration gets its wish.
Ammendment of the existing South Korea- U.S. free trade deal.
Both sides are prepped and ready to start the process.
Round 1 of negotiations begin next week.
Cha Sang-mi zooms in on what to expect in Washington on January 5th.
Top negotiators from Korea's Trade Ministry and the U.S. Trade Representative will sit
down next Friday to begin negotiations over the amendment of the two countries' five-year-old
trade deal The first round of negotiations is set for
January 5th in Washington D.C. Korea's Ministry for Trade, Industry, and
Energy announced on Thursday that the revision is likely to be partial, as the U.S. hasn't
gone through all of the legal steps necessary for a full revision of the FTA.
In order to carry out a full revision of the trade deal, the U.S. would have had to follow
Trade Promotion Authority procedures such as stating its intentions to Congress ninety
days before the renegotiations begin.
The Trump administration wants to make amendments in multiple fields such as the automobile
and agro-livestock sectors in a bid to alleviate its goods trade deficit.
Seoul is seeking to protect sensitive sectors like agriculture while vying for what it calls
a 'mutually beneficial' deal.
The Korean government hasn't revealed what demands it'll make at the talks, but experts
say there are a few expected moves.
(ENGLISH) - "The Korean government seems to be interested
in weakening the Investor State Dispute Settlement - the ISDS - and weakening the conditions
to impose safeguards on American beef.
Some other cards that we can play are anti dumping."
Yet since Congress supports the U.S. anti dumping measures, the experts predict that
attacking the anti-dumping measures might be a somewhat dangerous move.
Korea's Trade Ministry in its report to the National Assembly last week, said that the
U.S. side is likely to request tariff adjustments to recover its trade imbalance.
The negotiations will be led by Korea's director general for FTA Negotiations Yoo Myung-hee
and U.S.'s Assistant Trade Representative Michael Beeman.
The representatives of Korea and the U.S. have already held two preliminary meetings
to arrange the amendment talks since the Moon and Trump administrations came into power
earlier this year.
Cha Sang-mi, Arirang News.


For more infomation >> Pennsylvania mom takes gun rights battle to Washington - Duration: 4:17.
For more infomation >> How High Is Too High? Volunteers Help Washington Test The Limits Of Stoned Driving - Duration: 1:50.
For more infomation >> Woman Alleges Naked Photos Were Taken Of Her At Washington Hospital - Duration: 2:51. 
For more infomation >> 12/27/17 3:44 PM (113 Washington Ave, Moosic, PA 18507, USA) - Duration: 0:29. 
Không có nhận xét nào:
Đăng nhận xét