[CTC] As Imports grow faster than exports, Trade deficit widens

[Andrew Gussert]

>From The Detroit News:
http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos#ixzz0uArpc68t


Two senators urge 'hard bargain' with South Korea on autos David Shepardson
/ Detroit News Washington Bureau

*Washington* -- Two U.S. senators urged the Obama administration to
"drive<http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos>a
hard bargain" with South Korea to open the country to auto imports.

Sens. Debbie Stabenow, D-Lansing, and Sherrod Brown, D-Ohio, wrote President
Barack Obama<http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos>today
demanding the administration take a tough stand in talks to make
changes to win congressional approval of the long-stalled Korea Free Trade
Agreement.

"We believe the Administration must focus on
driving<http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos>a
hard bargain with Korea -- one that shows success in gaining market
access
while combating unfair trade practices, and provide a new framework that
gives confidence to American producers and manufacturers that global trade
deals produce jobs and better living conditions at home and abroad," the
senators wrote.

Both senators are on the President's Export Council. Obama this month named
three Michigan CEOs, including Ford CEO Alan Mulally to the council. Ford
has urged changes to the agreement to open the Korean market to more U.S.
imports.

Last month, Obama said his administration would launch new talks with South
Korea aimed at resolving those differences before he visits South Korea in
November; he wants to submit an agreement to Congress soon thereafter.

Ford said the South Korean government "has a long history of actively
intervening in the market to exclude imports."

"A well-negotiated U.S.-Korea Free Trade agreement," it said, "represents
the last, best chance to open the Korean market to imported
automobiles<http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos>."


Most U.S. automakers have opposed the agreement negotiated under the Bush
administration because it did little to open the closed auto market. General
Motors<http://www.detnews.com/article/20100719/AUTO01/7190407/1361/Two-senators-urge--hard-bargain--with-South-Korea-on-autos>Co.
has stayed neutral, because of its South Korean unit GM Daewoo, which
is
the fourth-largest automaker there.

*dshepardson at detnews.com (202) 662-8735*
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