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WP: KORUS FTA is a Test for US

Written: 2010-11-10 13:25:59Updated: 2010-11-10 14:29:51

WP: KORUS FTA is a Test for US

The Washington Post says that the South Korea-U.S. free trade agreement is a test for the U.S. on whether American businesses can make inroads into one of Asia’s major economies.

The newspaper said that although U.S. President Barack Obama and South Korean President Lee Myung-bak face opposition at home in terms of the adoption of a free trade agreement, the two leaders agree that both nations stand to benefit.

The article said that Obama would face a tough sell in Congress on any such agreement, as well as concerns about the potential negative effects of free trade on U.S. unemployment.

The daily said that a South Korea-U.S. trade deal would increase U.S. exports to South Korea while offsetting the tremendous U.S. trade deficit to China.

The two countries are holding trade negotiations ahead of the G20 summit that opens in Seoul on Thursday.

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