The Korean/U.S. free-trade deal seems to be coming to fruition. An agreement reached in 2007 under President George W. Bush was never ratified. President Obama ran for office saying the unratified free trade agreements with Korea, Panama and Colombia had flaws and needed renegotiating. The deal with Korea is the first to get President Obama’s seal of approval, although both Congress and the legislature in Korea must still approve it before it takes effect.
The two-year renegotiation yielded very little. The Koreans will liberate their auto market a bit more slowly; the United States will be able to keep tariffs on pickup trucks a bit longer.
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