U.S., South Korea meet to discuss KORUS

Representatives from the U.S. and South Korea met in the Office of the U.S. Trade Representative (USTR) Jan. 5 to begin talks on renegotiating the U.S.-Korea (KORUS) Free Trade Agreement. The U.S. representative was Assistant U.S. Trade Representative for Japan, Korea, and APEC, Michael Beeman. Myung-hee Yoo, director general from the Ministry of Trade, Industry, and Energy, represented South Korea. According to a USTR announcement following the meeting, both sides pushed for their priority areas, with the U.S. discussing “proposals to move towards fair and reciprocal trade in key industrial goods sectors, such as autos and auto parts, as well as to resolve additional cross-cutting and sector-specific barriers impacting U.S. exports.” U.S. Trade Representative Robert Lighthizer said, “We have much work to do to reach an agreement that serves the economic interests of the American people. Our goals are clear: We must achieve fair and reciprocal trade between our two nations. We will move forward as expeditiously as possible to achieve this goal.” Details on the next meeting have not been announced. — WLJ