We have a FTA with South Korea, but it's anything but Free and anything but FAIR! We allow South Korea unfethered access to American Markets, but they place up sneaky non-tarriff trade barriers that amounts to Protectionism!
So the question is, why do we not renegotiate these agreements to make the truly free and FAIR? Why still allow these one-sided protectionism agreements?
This crap is bullshit and consistent with most of our "Free" Trade Agreements. They are one-sided free trade against us, but allows the other to still practice protectionism! WTF!!!
So the question is, why do we not renegotiate these agreements to make the truly free and FAIR? Why still allow these one-sided protectionism agreements?
Ford Comes Out Swinging Against FTA With South Korea | Economy In Crisis
American-made cars can compete and win globally, but we cant afford a future with more closed markets to American exports, the ad states.
According to the ad, for every 52 vehicles that South Koreas automakers ship to America, U.S. automakers export just one there.
The South Korean government uses a whole host of non-tariff barriers to keep foreign-made vehicles out of the market. South Korea uses efficiency standards, high taxes, restricted advertising hours and the assurance of an income tax audit to discourage the purchase of American-made automobiles.
Those tools have been extremely effective. In 2009, the U.S. exported just 5,878 autos to South Korea. South Korea, on the other hand, exported 476,833 autos to the U.S.
Korea has what Ford describes as one of the most closed automotive markets in the world. Imports make up just six percent of the market, the lowest foreign market share of all Organization for Economic Development and Cooperation nations.
Even if the terms of the agreement were renegotiated, it would be up to South Korea to hold up its end of the bargain, which hasnt always been the case with the Asian nation. In the 1990s, the U.S. and South Korea negotiated two auto-specific agreements that removed some of the most overt non-tariff barriers, South Korean officials just replaced them with less overt barriers.
Outright bans were simply replaced with exponentially higher insurance costs and other measures to discourage South Koreans from buying imports. Other measures, including excessively burdensome certifications processes were implemented to discourage foreign companies from exporting to South Korea
This crap is bullshit and consistent with most of our "Free" Trade Agreements. They are one-sided free trade against us, but allows the other to still practice protectionism! WTF!!!
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