Korea rejects United States call to revise 'job killer' trade deal

South Korea proposed that experts from the two nations conduct a study on the effects of their trade pact and the cause of US trade deficits with South Korea.

Kim said that his side has proposed for a joint study with Washington to evaluate the impact that the 5 year old bilateral trade agreement has caused on USA trade deficit.

Seoul and Washington were unable to reach a consensus regarding the United States' request to amend certain terms of the two nations' free trade agreement, the country's newly elected chief trade negotiator Kim Hyun-chong said Tuesday.

President Donald Trump long criticized numerous nation's trade agreements, including the five-year-old pact with South Korea knowns as Korus FTA.

But South Korea said the deal has been beneficial to both countries.

The trade issue has emerged just as the USA and South Korea need each other's support to fight North Korea's nuclear threat. Working-level negotiators on both sides then sparred in a session lasting more than eight hours.

American industrial reaction to the Korus FTA talks has been mixed. But the USA sees it as one of the main reasons for the imbalance.

A Leading Elephant Conservationist Has Been Murdered in Tanzania
After a pilot was shot dead during a search for signs of poaching near Tanzania's Serengeti National Park a year ago , Mr. He had received numerous death threats in connection with his anti-poaching initiatives.

Pistorius prosecutor willing to take case against Mugabe
Engels's mother, Debbie, said she was confident that AfriForum's help would prevent Mugabe from escaping justice. Mugabe without good cause". "She had an electric cord wrapped around her hand and she started attacking them".

Legendary Comedian Jerry Lewis Dead at 91
Martin and Lewis enjoyed a smashing ten-year-run, making hit movies in between engagements at nightclubs, on television and radio. He starred in several films over the decades, including The Bellboy (1960), Cinderfella (1960), and The Nutty Professor (1963).

The value of US goods exported to Korea fell 0.03 percent from $43.5 billion in 2011 to $42.3 billion in 2016, the report said. "We made our position clear that investigation, analysis and evaluation of the impact of the Korea-U.S. FTA must be preceded".

The Trump administration wants to renegotiate trade terms regarding cars and steel because the two sectors are where the USA has significant deficits, said Rajiv Biswas, IHS Markit's Asia Pacific chief economist.

It appears that the automobile and steel industries will be targeted for changes.

In 2016, the USA imported $81 billion from South Korea and exported only $63.8 billion. Kim said past year that the deal was a "slam dunk-shot" for the US. The countries' officials had held talks in Seoul, in which Washington hoped there would be discussions to amendments or modification of the free trade deal agreed to 5 years ago.

On steel, American officials say South Korea is partly to blame for the global glut that has caused prices to fall.

Korean researchers who monitor trade with the USA say Washington may want to make tweaks to Korus FTA, rather than conducting a deep negotiation, given the conflicting interests of individual industries.

While Trump has promised to reduce the total trade deficit, most likely by seeking protections for American automakers, experts argue a renegotiated KORUS won't bring jobs back to America.

(Copyright © 2015. All Rights Reserved.)

Spine-Chilling "Black Mirror" Headed for Multiplatform Release
A new gameplay feature has also been announced where players will be able to interact "with vision-like apparitions". For the first time in his life Gordon has visited his ancestral home following the recent death of his father.

All are Well Set for the Upcoming Sunday Game
If they are not able to finish the game, then you will get top competitions in this league, said by the linebacker, Alec Ogletree. They have started making plans and on-field preparations for the Sunday game again the New York Giant at the Twickenham Stadium .

Monday Weather: High Clouds For the Solar Eclipse
The overall weather pattern will mellow out a bit for the rest of the work and school week. Today: More Clouds than Sun with Scattered Showers and Afternoon Storms.

NBA Takes New Measures to Enhance its Latest Mobile View Feature
Last season, the service garnered 26.7 million views in over 1.2 billion minutes, up by over ten percent from the last season. Additionally, the onsite camera operator will communicate via intercom with the Secaucus producer, and no one else.

Samsung Galaxy Note 8 might be Available to buy from 15th Sept
It is likewise, for the most part, trusted that the Note 8 will likewise be made accessible in dark, gray and gold shadings. However, the Note phones are being confirmed with a stylus, since ever and it is the same with this phone, as well.

German police seize 5000 ecstasy tablets bearing Trump's face
Police in Osnabruck say they found the drugs while checking an Austrian-registered vehicle on the A30 highway. The orange pills are shaped to resemble the president's head, with his face on the front.

Terror crime probe on Finnish knife attack
The country's president, Sauli Niinisto, visited Turku later Friday and condemned what he called a "shocking and cowardly act". Police said they had deployed extra security measures at Helsinki airport and railway stations across the country.

Foot Locker has a Nike problem
The fund owned 21,295 shares of the athletic footwear retailer's stock after selling 54,429 shares during the period. Yintech Investment Holdings Ltd - ADR (NASDAQ:YIN) has declined 4.70% since August 18, 2016 and is downtrending.

'US Not Closer to War with N. Korea Than a Week Ago'
New U.N. sanctions condemning North Korea's rapidly developing nuclear program drew fresh ire and threats from the North. The comments helped ease worries emanating from an escalation of tensions between the United States and North Korea.

Huddersfield beats Newcastle to make it 2 wins out of 2
Newcastle United's start to the league did not go as well, as they went 2-nil down to Tottenham at St James' Park. We take a look at tonight's Premier League clash between Huddersfield Town and Newcastle United .

Big Ben hushed as 4-year repairs begin
The silence will be broken on special occasions - the bells will still ring on December 31 each year to herald the New Year. Big Ben , part of London's most famous landmark, will stop tolling to allow for extensive renovation work.

Man charged in shooting death of Florida police officer
The early stages of the investigation shows that Miller had made threats to law enforcement on Facebook, O'Dell said. The suspect, armed with a high-powered rifle, began shooting through the door at the deputies and exited the house.

State Department Suspends Visa Operations In Russia
Almost a quarter of a million Russian tourists visited the US last year, according to Russian tourism officials. That will pose a logistical challenge for many Russians, whose country is the world's largest by territory.

One dead, six injured in South Korean artillery drill
Can Avoid Crisis" [World & Nation] mentions the upcoming annual defensive military drills involving the U.S. and South Korea . Combined Forces Command will hold the annual Ulchi Freedom Guardian exercise August 21-31, defense officials announced today.

US Reduces Russian Visa Services as Kremlin Caps Diplomat Numbers
In that time frame, Russian Federation issued about 95,000 nonimmigrant visas , the bulk of which were for tourists. It added that in September it was planning to issue a block of visa appointments to students studying in the U.S.

More News

More News