Obama to renegotiate Korea trade deal?

[Robert Oak]

Over on The Economic Populist is a post Obama administration Wants to Renegotiation the Korea US Free Trade Agreement

President elect Obama may be on the path to making a major change in US trade policy, and that's making East Asian countries extremely nervous. A particular point of tension is already developing between the United States and the Republic of Korea.

The Bush administration signed the Korea-US Free Trade Agreement on June 30, 2007, but the agreement has as yet to pass through either the US Congress or Korean National Assembly. Opposition is strong in both countries although the groups in opposition differ. Korean farmers are concerned that the agreement will allow an avalanche of cheap food into the country, while in the Unites States opposition has been strongest in the automotive sector.

If this is true, well for one, the trade team is going to have a tough road and maybe they can trade on foods, which the Korean farmers
vehemently protested for it will wipe them out but also if it's true, we may have more than token empty platitudes on getting serious about U.S. trade policy and that's a very good sign.




raw link:
http://www.economicpopulist.org/?q=content/obama-administration-wants-renogotiate-korea-us-free-trade-agreement