Time is running short for U.S. and South Korean negotiators to come to agreement on two major issues holding up the South Korean Trade Agreement in the U.S. Congress. Those two issues are beef and auto exports. The United States wants to resolve concerns by Nov. 10 so the pact can move forward in Congress. President Obama will meet with South Korea President Lee Myung-bak in Seoul on Nov. 11. That's the soonest an announcement on agreement could be made.
The pact has been stalled in Congress by many lawmakers from Midwestern auto states who say it does not do enough to tear down non-tariff barriers that they blame for low U.S. autos sales in the South Korean market. Other farm state lawmakers want Seoul to completely open its market to U.S. beef by accepting beef from all ages of cattle, not just those under 30 months.
According to Mike Froman, deputy national security advisor for international economic affairs, they're going to put every effort into achieving an acceptable agreement and satisfactory agreement, by the time the President comes to Seoul.
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