InfoAnda - Outlook cloudy for SKorea-US free trade agreement

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

New technologies confuse reality and fiction: Pope | 8 October 2010
Canadian city to stop dumping untreated sewage | 12 June 2009
Adam Lambert's new album challenges Idol producer | Entertainment | | 24 June 2009

Oklahoma, Texas Under Blanket Of Sleet And Snow | 29 January 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Outlook cloudy for SKorea-US free trade agreement

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Outlook cloudy for SKorea-US free trade agreement By KELLY OLSEN,AP Business Writer AP - 34 minutes ago SEOUL, South Korea - Call it the free trade follies. South Korean opposition politicians last week used a sledgehammer to try and force their way into a barricaded committee room to stop the ruling party from introducing debate on a tariff-slashing free trade agreement with the United States. Fire extinguishers were used amid the melee _ it's not entirely clear by whom _ that threw South Korea's National Assembly into chaos. The brouhaha highlights the emotional intensity such pacts can trigger _ as well as this one's murky outlook. The South Korea-U.S. Free Trade Agreement has languished in political limbo since being signed nearly 18 months ago. It still needs approval from legislatures in both countries, but two major developments since then have raised questions about its passage: Major political changes in both South Korea and the United States and the global financial crisis. Conservative South Korean President Lee Myung-bak, who took office in February, is a firm supporter of the deal, negotiated and signed by the previous liberal Roh Moo-hyun administration. Lee's Grand National Party wants South Korea to ratify the pact first _ as early as by the end of this year _ potentially making it harder for the incoming U.S. administration of President-elect Barack Obama, seen as taking a harder line on free trade, to call for a renegotiation of the free trade agreement. Fears of such a scenario intensified during the final presidential debate in October, when Obama singled out South Korea by noting a wide imbalance in auto trade between the two nations. "That is not free trade," he said in the debate. "We've got to have a president who is going to be advocating on behalf of American businesses and American workers and I make no apology for that." South Korean automakers including Hyundai Motor Co. sold 772,482 vehicles in the United States in 2007, while Detroit sold 6,235 in South Korea, according to statistics compiled by South Korean auto industry groups. Members of Roh's former party, now in opposition under a new name, the Democratic Party, say they still favor the deal _ but want to ensure measures are in place to help farmers and others seen as vulnerable to more U.S. imports. They warn against being too hasty in ratifying the agreement. So on Dec. 18, when the ruling GNP introduced legislation to a National Assembly trade committee without the Democrats, the opposition politicians used a sledgehammer and other construction tools to tear open the committee room's wooden doors, only to find GNP lawmakers had set up barricades of furniture inside. The attempt to storm the room failed, and the GNP introduced the bill _ a move the Democratic Party called illegal. The GNP has a majority in both the committee and the entire National Assembly and could try to ram the legislation through. Given the opposition's anger, however, and a slew of other, arguably more urgent bills pending approval, it is unclear when the full legislature will vote on the pact. "That so much commotion was caused merely to put the issue of ratification onto the agenda for the committee, makes us wonder how much more disorder will ensue," the mass-circulation Chosun Ilbo newspaper said in an editorial. The trade deal is significant for both the U.S. and South Korea. It is the largest for the U.S. since the North American Free Trade Agreement with Canada and Mexico and the biggest ever for South Korea. NAFTA, signed in 1993, took effect the following year. Myron Brilliant, vice president for Asian affairs at the U.S. Chamber of Commerce in Washington, calls the agreement a potential catalyst for U.S. "economic expansion in East Asia." Despite the upheaval in South Korean politics, the global economic crisis appears a bigger stumbling block for now and will affect ratification efforts differently in each country. Cheong In-kyo, an expert on free trade at Inha University in Incheon, South Korea, says the drying up of demand for South Korean exports will likely increase support for the agreement at home. Not so, though, in the United States, where skepticism about free trade increases in times of stress, he said. "Next year the U.S. will experience one of the most severe economic recessions," Cheong said. "It's not a good time." Brilliant, who also serves as president of the U.S.-Korea Business Council, is optimistic Congress will eventually approve the agreement, despite hardline campaign rhetoric on trade by Obama and other Democrats. Still, he says passage will take time, with the deal not likely even to be taken up for consideration until the summer or fall of next year at the earliest, and probably later. Obama, who takes office Jan. 20, will initially have other, more pressing, priorities. "The reality is that President-elect Obama will be focusing on getting our financial house in order," Brilliant said. __ Associated Press Writer Shinwoo Kang contributed to this report. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Free Trade Outlook cloudy for SKorea-US free trade agreementAP - 34 minutes ago Japan, Vietnam sign free trade pactAFP - Friday, December 26 Tension rises in SKorea over US free trade pactAP - Thursday, December 18 Arshiya Intl gets nod for Mumbai warehousing zoneReuters - Wednesday, December 10 Related Articles: Business India bond yields up on inflation, securityReuters - 19 minutes ago 6 Chinese go on trial for selling melamineAP - 21 minutes ago Russia's ruble drops to 3-year low against dollarAP - 25 minutes ago India bought 28.95 bln rupees of bonds in wk Dec 19Reuters - 31 minutes ago India's cbank loans to govt nil in week to Dec 19Reuters - 32 minutes ago Related Full Coverage Free Trade Free Trade All Full Coverage Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 Actress Jennifer Aniston appears naked in GQ magazine Australian 'mummy smuggler' arrested in Cairo Funeral of Guinea strongman as junta tightens grip Weather outside frightful for US, Canada travelers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Friday, 26 December 2008
British soldier, four road workers killed in Afghanistan
Lebanese Army finds rockets near Israel border
French police defuse one bomb, another explodes | International |
Russia's 2009 budget deficit at least 3 percent of GDP: aide
Mumbai Jews celebrate Hanukah and remember victims | International |
Troops in Iraq find Christmas in memories
4 years later, tsunami victim rebuilds his life
Vietnam inflation reaches 23 percent in 2008: govt
Thai PM brushes off protest threat
Man In Santa Claus Costume Goes On Shooting Rampage At Christmas Eve Party
Japan's JFE Steel says shutting furnace
Taiwan prosecutors re-appeal former leader's release
Japan, Vietnam sign free trade pact
China plans to avert US-style auto crisis: report
China starts filling tanks at largest oil reserve: report
Lockheed Martin Expected To Complete Sale Of Orlando Based Unitech
Ruling could put 'Watchmen' in jeopardy
Doldrums for top-of-the-line Italian fashion
Nintendo says to offer videos on Wii
Secret Santa comes to SKorean town again
Myanmar cyclone survivors struggle to rebuild lives
Philippine communist rebels declare cease-fire
Israel again pounded by Gaza rockets
Earthquake strikes off Pakistan's coast | International |
22 dead in Ukraine apartment explosion
Women farmers toil to expand Africa's food supply | International |
US singer Eartha Kitt dies at 81
Seoul shares open up; airlines, Hynix gain
South Korean won jumps at open
Japan jobless, consumer prices rise in November
The Internet Surpasses Newspapers As Main Source Of News
Seductive singer Eartha Kitt dies at 81 | Entertainment |
Survey Finds Internet Surpasses TV As Main Source Of News
Eartha Kitt, sultry singer and dancer, dies at 81
AP NewsAlert
Harold Pinter: A master of the sound of silence
Sahara festival opens with camel races, desert dog hunting
New European online library re-opens after crashing
Israel sends out last-minute warning to Hamas | International |
26 dead in Ukrainian apartment blast: ministry
Guinea junta leader says will not cling to power | International |
Chinese ships head to Somalia | International |
British playwright Pinter dead at 78: wife, agent
Singer, Dancer, Actress Eartha Kitt Dies Of Cancer
Guinean president to be buried as junta takes over
Suicide bomber hits foreign forces in Afghanistan | International |
S.Korea says economy faces unprecedented crisis | International |
Khaleda asks supporters to guard Bangladesh polls | International |
Ukraine apartment block blast kills 22 | International |
In quake aftermath, China says many schools unsafe | International |
Six dead as gun-toting Santa opens fire, kills self
World keeps humor in 2008 despite economic woes | International |
SKorean Constitutional Court endorses US beef imports
Coral reefs recovering quickly from tsunami damage
Seoul shares fall 0.9 pct led by Daewoo Ship
GLOBAL MARKETS-Nikkei hits 6-wk high as risk appetite improves
Japan's Nissin to bring instant noodles to Russia
Ex-head of China milk-powder firm could face death penalty: lawyer
Errant Car Runs Over Hanukkah Crowd, Hurts 14
Shared meals, prayers for 2004 tsunami victims
Toyota recalls 122,000 cars in China over steering defects: govt
Update: Six Dead At Christmas Party Mayhem, "Santa" Gunman Suicide
Sri Lanka claims capture of rebel base
Sequels keep video games buzzing in 2008 | Technology |
Chinese appliance tycoon's company post suspended
Singer, Dancer, Actress Eartha Kitt Dead At 81
Chinese official says many schools still unsafe
S.Korea says economy faces unprecedented crisis
Taiwan's Powerchip submits plan for state aid | Technology |
Taiwan's ex-leader Lee faces corruption probe
S.Korea Q1 exports outlook plummets
SKorean parliament braces for fresh clashes over reform bills
Taiwan dollar rises for 3rd day on exporters
Heavy snow forces cancelation of flights, trains in Japan
SKorean bank turns down new loan to Ssangyong Motor
Visitor arrivals to S’pore drop 9.7% on—year in Nov
Economic troubles await Bangladesh election winner
Germany looks to Russia for clues on WWII massacre
Eartha Kitt, sultry `Santa Baby' singer, dies
13 killed in Iraq police shootout with Qaeda escapees
Police: 13 killed in Iraqi jailbreak
Pakistan cancels troops' leave over India tension | International |
Iraq militants escape jail, at least 14 dead | International |
Death toll in Ukraine apartment blast rises to 27 | International |
Violence in Kashmir lowest in 20 years: police | International |
US music and screen legend Eartha Kitt dies at 81
Some department stores reporting higher—than—expected takings
6 Chinese go on trial for selling melamine
Police: 10 injured in train accident in Bangladesh
Outlook cloudy for SKorea-US free trade agreement
Wild Oats XI, Skandia early leaders in Sydney Hobart race
Obama Tops Gallup's Annual 'Most Admired' List; Hillary Beats Palin, Oprah
Thai leader proposes $8.7 bln stimulus package
Ex-Cambodian king fighting cancer
Car Crashes Into NY Hanukkah Festival Sending 14 To Hospital
Big wheel's builder in Singapore as police probe breakdown
S.Korea may cut treasury bond sales plan in 2009
University Of Michigan Scientists Develop Artificial Bone Marrow
S.Korea suspends third small, provincial savings bank
Philippines leader vows 'no more rice crisis' in 2009
Update 2: Nine Dead In Christmas Shooting By Santa-Clad Gunman
Singapore's KS Energy appoints new CFO
Skier's Body Found After California Avalanche
Japan to go ahead with maglev train despite crisis: company
Obama Visits Marine Base In Hawaii On Christmas Day
SKorean court rules in favor of US beef imports
China shares edge lower amid gloomy profit outlook
Japanese factory output has biggest monthly fall
Oil prices rebound in post-Christmas trade
Japan shares rise despite plunge in factory output
Nobel-winning playwright Harold Pinter dead at 78 | Entertainment |
Michigan Researchers Develop Artificial Bone Marrow That Can Produce Real Blood
No breakfast, earlier sex: Japan study
"Little Nyonya" storyline does no justice to Joanne Peh?
Vivian Chow interlocking fingers with Joe Nieh
Kevin Tsai, Dee Hsu exposed antics of artistes
Ai Iijima dead over a week
Retailers say no significant drop in sales this year—end season
China tainted milk trial begins | International |
Gaza braces for Israeli offensive
Britons hit the shops as struggling retailers slash prices
Serbia arrests 10 ex-Kosovo fighters | International |
DJ AM Joins Travis Barker in Suing Over Plane Crash
Surviving British conjoined twin dies: hospital
High hopes for Ghana ride on presidential run-off | International |
Ukraine mourns 27 dead from apartment blast
Tough times seen ahead for British, Japanese economies
Wal-Mart to start selling iPhones on Sunday | Technology |
China, Taiwan sign oil cooperation deals
Pakistan moves troops toward Indian border
Singapore Flyer’s builder arrives as police probe breakdown incident
Pakistan's foreign reserves rise to $9.44 bln
Thai PM urges Thaksin not to incite unrest
6 Chinese go on trial for selling melamine
Violence in Indian Kashmir lowest in 2 decades
Congressional Report Finds Medicare Buy In Program Would Lower Costs For Americans
Declining U.S. Newspaper Circulation Potentially Signals Decline In Literacy Critical To Nation's Economic Health
Neighbourhood retailers start sales of Lunar New Year goods
Heavy Winter Storms Expected To Blanket Much Of The West In Deep Snow
School bus operators busy getting vehicles retrofitted with safety belts
Bush Appoints Top Aides To Government Boards
Group Warns Light Drinking By Pregnant Mothers Not Safe For Unborn Child
Prayers and tears as Asia marks tsunami anniversary
Suspicious powder sent to US embassy harmless
My Sons
9 researchers receive S$2m in funding to help commercialise new ideas
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01