US-S Korea free trade talks resume; no deal seen this week
Dow Jones Newswires | 11 February 2007
US-S Korea Free Trade Talks Resume; No Deal Seen This Week
By John Godfrey, of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The lead U.S. negotiator in free trade talks with South Korea said Sunday that while she is optimistic about the latest round of negotiations, a final agreement will not be reached this week.
The seventh round of negotiations since free trade agreement talks were launched one year ago began here Sunday afternoon. All working groups, including four that failed to meet during the sixth round three weeks ago, will meet in the foreshortened negotiating session, which is set to conclude Wednesday afternoon.
The meetings will take up the entire week to accommodate upcoming holidays in South Korea and the U.S.
"No one should expect a final agreement to be reached this week," Wendy Cutler, the assistant U.S. trade representative told reporters. But, she added, "clearly this is the week to quicken the pace and do everything we can to complete this deal."
Cutler said that "the fact that all the working groups are negotiating is an indication that we are serious about progress."
During the sixth round, working groups on automotive, pharmaceutical and trade remedies failed to meet.
This time around 200 negotiators from both sides have been called into the talks, the largest number at any time in the talks.
The Bush Administration is hoping to conclude the talks before President George W. Bush’s trade promotion authority expires. That authority allows the administration to submit to Congress trade agreements for consideration without amendment. Renewal of that authority, particularly in light of the administration’s unwillingness to negotiate for tougher labor and environmental standards in trade talks, is questionable given the Democrats’ recent takeover of Congress.
To take advantage of his authority, Bush must give Congress 90-days advance notice. So with trade promotion authority expiring July 1, the administration has, in effect, until March 30 to complete the deal.
There had been speculation that the U.S. might drop its efforts to open South Korea to automotive imports.
Cutler dismissed those rumors.
"We’ve made it clear to Korea that (the automotive issue) must be satisfactorily addressed in any free trade agreement that is concluded," Cutler said.
