The United States and South Korea are resolutely working on a free-trade agreement between the two countries and both sides are trying to resolve the differences on cars in preparation for the leaders’ meeting.
Washington says that South Korea’s auto standards discriminate against American cars and act as non-tariff barriers, which keeps their market share at less than one percent.
In their second day, U.S. Trade Representative Ron Kirk and South Korean Minister for Trade Kim Jong-hoon were not able to resolve issues brought by the U.S. auto industry and holding up approval by the U.S. Congress.
South Korea’s Deputy Minister for Trade overseeing FTA talks, Choi Seok-young, says Tuesday’s talks focused on U.S. concerns that the deal signed three years ago is not enough to ensure access to South Korea’s auto market for U.S. manufacturers.
Choi adds that the U.S. side is concerned about greenhouse gas emission standards and automobile fuel mileage. [via autonews - sub. required]