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Posts Tagged ‘new trade deal’

US, South Korea Agree to Renegotiate Free Trade Agreement

Countries expecting to wrangle over automotive rules.

by on Oct.06, 2017

Negotiations between the U.S. and South Korea on a new free trade agreement will certainly include auto industry talks.

South Korea has agreed to renegotiate a five-year-old trade agreement establishing free trade rules between the two countries and automotive trade is very likely to be at the center of discussions, observers predicted.

The American and South Korean delegations met in Washington for a second round of talks on the deal, known as the KORUS FTA, this week, according to Newsweek magazine.

Global Auto News!

“The two sides recognized the need to amend the FTA to enhance mutual benefits of the KORUS FTA,” South Korea’s trade minister, Kim Hyun-chong, who had been one the deal’s lead negotiators, said in a statement issued to media after the discussions. (more…)

Germans Take to Berlin Streets to Protest Trade Deal

Demonstrators fear environmental concerns, job losses.

by on Oct.12, 2015

Chancellor Angela Merkel is in favor a new trade pact between Europe and the United States.

Thousands of protesters filled the streets in the center of Berlin to protest the Trans-Atlantic Trade and investment Pact, a new proposed trade pact between the U.S. and the European Union that German carmakers have-called vital to their long-term interests.

Participants in the huge demonstration, which attracted more than 200,000 people to the German capital, are concerned the deal will reduce food or environmental standards, endanger jobs and undermine governmental authority.

Trade News!

Supporters of the agreement, which include the German government headed by Chancellor Angela Merkel, insist the agreement will increase exports, helping to fuel economic expansion across Europe, which has been hurt by financial and sovereign debt crises during the past decade. (more…)