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blynch
Joined: 25 Oct 2006
Location: UCLA
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 Posted: Sun Apr 01, 2007 9:34 pm Post subject: HURRAY!!!!!!!!!!!!!!!!!!FTA between the USA and Korea!!!!!!! |
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Ending nearly 10 months of tough negotiations, Korea and the United States reached a free trade agreement Monday (April 2) that would drastically boost their exports, officials both sides said.
Han Dong-man, a spokesman at Korea's Ministry of Foreign Affairs and Trade, said the talks were successfully wrapped up after overnight nonstop negotiations that involved top level officials from the two countries.
U.S. Trade Representative spokesman Steve Norton also confirmed the agreement.
Korean Trade Minister Kim Hyun-chong and Deputy U.S. Trade Representative Karan Bhatia scheduled a joint news conference for 2:30 p.m. (0530 GMT) to formally announce the deal, Han said.
The deal was reached minutes before the U.S. legal deadline of 1 p.m. Monday (0400 GMT on Sunday) ran out. The deadline requires U.S. President George W. Bush to notify Congress of his intention to sign a deal under his "fast-track" trade promotion authority.
That authority requires a mandatory 90-day congressional review of a deal before voting for or against without amendments. Korea has no time limitations for getting approval from its parliament where supporters are believed to outnumber opponents. |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Sun Apr 01, 2007 9:52 pm Post subject: Re: HURRAY!!!!!!!!!!!!!!!!!!FTA between the USA and Korea!!! |
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| blynch wrote: |
Ending nearly 10 months of tough negotiations, Korea and the United States reached a free trade agreement Monday (April 2) that would drastically boost their exports, officials both sides said.
Han Dong-man, a spokesman at Korea's Ministry of Foreign Affairs and Trade, said the talks were successfully wrapped up after overnight nonstop negotiations that involved top level officials from the two countries.
U.S. Trade Representative spokesman Steve Norton also confirmed the agreement.
Korean Trade Minister Kim Hyun-chong and Deputy U.S. Trade Representative Karan Bhatia scheduled a joint news conference for 2:30 p.m. (0530 GMT) to formally announce the deal, Han said.
The deal was reached minutes before the U.S. legal deadline of 1 p.m. Monday (0400 GMT on Sunday) ran out. The deadline requires U.S. President George W. Bush to notify Congress of his intention to sign a deal under his "fast-track" trade promotion authority.
That authority requires a mandatory 90-day congressional review of a deal before voting for or against without amendments. Korea has no time limitations for getting approval from its parliament where supporters are believed to outnumber opponents. |
It seems Korea stands to benefit well from this agreement. For all the Korean Economy doomsday wishers/ill wishers in general, it appears the K-economy is set to keep up it's health. Also, the agreement should stem the relentless growth of China a little, and keep Korea stable in the face of
Chinese growth.
http://www.iie.com/publications/opeds/oped.cfm?ResearchID=273 |
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jinju
Joined: 22 Jan 2006
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| Posted: Sun Apr 01, 2007 9:58 pm Post subject: |
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Good news.
Q: How many commies will set themselves on fire in protest?
A: Not enough |
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RACETRAITOR
Joined: 24 Oct 2005
Location: Seoul, South Korea
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| Posted: Sun Apr 01, 2007 10:00 pm Post subject: |
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| I just hope Korea doesn't get screwed like Canada and Mexico have. |
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Zolt
Joined: 18 May 2006
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| Posted: Sun Apr 01, 2007 10:04 pm Post subject: |
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I was waiting since this thread began for the C word to pop up hahaha.
Well I have not seen the details of the agreement, but I'm guessing it's a heavily expurged version - excluding all the good stuff - that is Food! |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Sun Apr 01, 2007 10:04 pm Post subject: |
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| RACETRAITOR wrote: |
| I just hope Korea doesn't get screwed like Canada and Mexico have. |
Were we? When America went into recession in 2000, the Canadian economy kept growing. We've had budget surpluses for a decade now. Canada enjoys a huge trade surplus with the USA. Professionals can work more easily in the USA with the TN visa. How were we screwed? |
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Positive Realist
Joined: 11 Jan 2007
Location: Somewhere Damn Azz Cold
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| Posted: Sun Apr 01, 2007 10:17 pm Post subject: |
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| mindmetoo wrote: |
| RACETRAITOR wrote: |
| I just hope Korea doesn't get screwed like Canada and Mexico have. |
Were we? When America went into recession in 2000, the Canadian economy kept growing. We've had budget surpluses for a decade now. Canada enjoys a huge trade surplus with the USA. Professionals can work more easily in the USA with the TN visa. How were we screwed? |
Potatoes and lumber my friend, potatoes and lumber. |
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RACETRAITOR
Joined: 24 Oct 2005
Location: Seoul, South Korea
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| Posted: Sun Apr 01, 2007 10:21 pm Post subject: |
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| Positive Realist wrote: |
| mindmetoo wrote: |
| RACETRAITOR wrote: |
| I just hope Korea doesn't get screwed like Canada and Mexico have. |
Were we? When America went into recession in 2000, the Canadian economy kept growing. We've had budget surpluses for a decade now. Canada enjoys a huge trade surplus with the USA. Professionals can work more easily in the USA with the TN visa. How were we screwed? |
Potatoes and lumber my friend, potatoes and lumber. |
The US illegally put up a tariff on softwood lumber, which ripped our economy off about 6 billion dollars. NAFTA ruled in favour of free trade and told the US to pay Canada back, but it isn't going to happen. The US is just a bad, untrustworthy trading partner. They pretty well said "We're going to put up a tariff because if we don't, our lumber industry will suffer." So it's basically only one-way free trade. |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Sun Apr 01, 2007 10:23 pm Post subject: |
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| mindmetoo, positive realist, racetraitor wrote: |
| ............................... |
offtopic
Last edited by leebumlik69 on Sun Apr 01, 2007 10:35 pm; edited 1 time in total |
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seoulsucker
Joined: 05 Mar 2006
Location: The Land of the Hesitant Cutoff
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| Posted: Sun Apr 01, 2007 10:25 pm Post subject: |
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| RACETRAITOR wrote: |
| The US is just a bad, untrustworthy trading partner. |
Not true. You can always trust that we'll get the better end of the deal, and there's not a whole helluva lot you can do about it. |
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Zolt
Joined: 18 May 2006
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| Posted: Sun Apr 01, 2007 10:26 pm Post subject: |
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| What business does a red vegetable have calling food off topic? |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Sun Apr 01, 2007 10:27 pm Post subject: |
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| seoulsucker wrote: |
| RACETRAITOR wrote: |
| The US is just a bad, untrustworthy trading partner. |
Not true. You can always trust that we'll get the better end of the deal, and there's not a whole helluva lot you can do about it. |
offtopic |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Sun Apr 01, 2007 10:27 pm Post subject: |
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| leebumlik69 wrote: |
| zolt, mindmetoo, positive realist, racetraitor wrote: |
| ............................... |
offtopic |
I disagree. It shows potential consequences relating to the original post. |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Sun Apr 01, 2007 10:32 pm Post subject: |
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| Bibbitybop wrote: |
| leebumlik69 wrote: |
| zolt, mindmetoo, positive realist, racetraitor wrote: |
| ............................... |
offtopic |
I disagree. It shows potential consequences relating to the original post. |
I disagree. The potential consequences of the K-US FTA have not been discussed as yet. Just old irrelevant news... |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Sun Apr 01, 2007 10:34 pm Post subject: |
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| Zolt wrote: |
| What business does a red vegetable have calling food off topic? |
sorry not u Zolt. ur ok this time
Last edited by leebumlik69 on Sun Apr 01, 2007 10:35 pm; edited 1 time in total |
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