Our World

Free Trade Agreement in South Korea

Please check out the link, this is a really long and interesting story. The United State and South Korea have been talking about make a Free Trade Agreement between the two countries. They concluded their 5th round of talks today via a teleconference in Montana. With this FTA the United States hopes to be able to avoid the tariff and taxes placed on American goods sent to South Korea. In specific the US hopes to be able to ship American cars and medicine to the area without the heavy tax. The FTA would also help the agriculture of the area bringing in new types of crops. South Korea earlier this week would not accept a shipment of American beef, showing how back-and-forth they have been on reaching a decision with the US and the FTA. If the US could make an agreement with South Korea it would be the largest FTA since the NAFTA pact of 1994. I personally feel that this move is not a smart move considering the conditions of the area. With North Korea the way it is it almost seems like another way to get closer to a country that we have suspicions about. Maybe it is an honest agreement, maybe not?

posted by Anonymous @ 12/08/2006 10:43:00 PM