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US-Korea Free Trade Agreement Renegotiated


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2018 Mar 28, 9:57am   3,156 views  11 comments

by MisdemeanorRebel   ➕follow (12)   💰tip   ignore  

The Trade Deficit that widened with South Korea after the Obama Regime signed the Free Trade deal has been reformed. As usual, the "Free Trade Deal" was about giving US Banks and Finance access to South Korean assets, in exchange for one-sided access to the US markets, destroying US Blue Collar Jobs. Now that's changed.


The Trump administration said Tuesday it has widened U.S. access to South Korea’s car market while providing American manufacturers protection from South Korean imports.

The United States and South Korea have reached an agreement to overhaul the six-year-old U.S.-Korea Free Trade Agreement, senior administration officials said, confirming an announcement earlier Monday in Seoul. President Donald Trump had called the original Korea pact a job killer.


Wow.



The new deal doubles — to 50,000 — the cars each U.S. automaker can export annually to South Korea, reduces bureaucratic barriers to American products and extends a 25 percent U.S. tariff on South Korean pickup trucks by 20 years, through 2041.

The inspection regime, and the regular safety changes, was a YUGE barrier the South Koreans used to keep out US Vehicles.


South Korea escapes America’s new 25 percent tariff on imported steel — but must accept quotas on steel exports equal to 70 percent of its average annual shipments to the United States between 2015 and 2017.

https://apnews.com/94ee2c7850b1472d8f1d4c7de1f9ef7e?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP&__twitter_impression=true

Comments 1 - 11 of 11        Search these comments

1   MisdemeanorRebel   2018 Mar 28, 12:58pm  


"Breakthrough Deal"

www.youtube.com/embed/kY53y_kHWdw

"This was the third worst deal in US history... our trade deficit doubled in two years... it was so one-sided."
2   RWSGFY   2018 Mar 28, 1:54pm  

TwoScoopsPlissken says
extends a 25 percent U.S. tariff on South Korean pickup trucks by 20 years


Do they even import any SK pickups here? Do they even make them?
3   MisdemeanorRebel   2018 Mar 28, 1:59pm  

Satoshi_Nakamoto says
Do they even import any SK pickups here? Do they even make them?


Oh, they make 'em. There will be South Korean light trucks here in the next year or so - Hyundai is spending $3.1B over the next few years on factories in the USA. They'll be made here, not imported to here. That means property taxes, employee income taxes, corporate taxes, and tons of knock-on jobs. Because Trade Deficits fuel Budget Deficits.

https://www.usatoday.com/story/money/cars/2017/01/19/hyundai-plans-31b-investment-us-plants-research/96779920/
4   Booger   2018 Mar 28, 3:51pm  

TwoScoopsPlissken says
https://www.usatoday.com/story/money/cars/2017/01/19/hyundai-plans-31b-investment-us-plants-research/96779920/


Trump has singled out the auto industry when it comes to adding jobs to the U.S. in a series of Twitter messages, including threats of a 35% tariff on imported vehicles.

ERECTION INTENSIFYING!!!
5   marcus   2018 Mar 28, 3:54pm  

Ha ! You think new cars cost a lot now ! ?
6   bob2356   2018 Mar 28, 9:45pm  

TwoScoopsPlissken says
US-Korea Free Trade Agreement Renegotiated


I'm impressed. We raised the quota on US auto exports to SK from 25,000 a year per manufacturer to 50,000a year per manufacturer. The only problem is that last year GM had the most auto exports to SK of any maker at 11,000. Reminds me of VIetnam dropping tariffs on snowmobiles and Brunei dropping tariffs on pork for the TPP.
7   bob2356   2018 Mar 28, 9:50pm  

Booger says

ERECTION INTENSIFYING!!!


You did read the part about spending 2.1 B the last 4 years right? Are you saying you got an Obama erection over that?
8   marcus   2018 Mar 28, 9:54pm  

Korea's success with automobiles in the past decade may possibly not be Obama's fault.
9   MisdemeanorRebel   2018 Mar 28, 10:28pm  

bob2356 says
>You did read the part about spending 2.1 B the last 4 years right? Are you saying you got an Obama erection over that?>

I think you overlooked the additional $3.1 billion moving forward.

Did you read the part where our trade deficit DOUBLED in two years after Obama and then SOS Hillary who negotiated the "Free Trade Deal" (that let ROK keep all it's non-tariff trade barriers and tariffs on our cars, so long as Wall Street could buy assets in ROK)?

Citigroup was happy though. You know who Obama's Trade Negotiator was? Michael Froman. He made sure that we traded away American market access and US Jobs for Citigroup's access to Korean assets.

bob2356 says
The only problem is that last year GM had the most auto exports to SK of any maker at 11,000.


I think you "overlooked" that the non-tariff trade barriers still present last year go bye-bye moving forward, which ROK was allowed to have under Hillary's and Obama's "Free Trade" (hahahah) Agreement.

marcus says
Korea's success with automobiles in the past decade may possibly not be Obama's fault.


But the widening trade gap, that doubled in two years, he's directly responsible for, having negotiated the "Free Trade" (LOL) pact.

The number of times "Free and Happy Words appear in the Title" the more it's designed to fuck Middle America in the Ass.
10   zzyzzx   2018 Mar 29, 7:28am  

marcus says
Ha ! You think new cars cost a lot now ! ?


It's not like Hyundai, or anyone else, is passing the made in Korea or Made in Mexico savings along to the consumer.
11   MisdemeanorRebel   2018 Mar 29, 7:55am  

1. Ship the Chinese parts to Mexico
2. Have Mexico assemble the parts together
3. Eureka! "Made in Mexico, NAFTA Tariff Free!"

Mexico and Canada are fighting to KEEP the US from raising the mandatory constituent parts made in North America to 80%.

That's right, they WANT to keep using the Euro and Asian parts, but still have it labelled "Made in North America"

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