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Show Tuesday, DAILY April 3, 2007 Deal HERALD v Q Continued from Al A9 the Bush administration had concluded marathon negotiations in Seoul for a e agreement with South Korea, the globe's 10th largest !.; I 'S-.- V... free-trad- omy and seventh-large- -- U.S. st ' HV trade trading partner. Two-wa- y last year exceeded $72 billion. The pact would be the biggest since the North American Free Trade Agreement took effect lA : Hi " " m jm .,.,s'"Jl t '" (f I -. " ,r - I j"" I in 1994. Deputy Trade Representative Karan Bhatia said Bau-cus- 's concerns had been heard. "I dont think the Congress will approve an FTA with Korea without the full reopening of Korea's beef market. We have made that very clear to Korea. The indications we have gotten from Korea is they understand that," Bhatia said. South Korea was the U.S. market for beef until 2003, when it closed its market after a "mad cow" disease scare raised fears that U.S. officials say are unfounded Once Congress gets around to voting on the pact, commerthird-large- . X . , - fOZ 4J I i . f f. st cial and geopolitical concerns may weigh more heavily. Democrats must consider whether to turn their backs on a major deal with a strategic ally, where US. troops have helped secure stability since 1953. They also must weigh the downside of e killing the first pact with an Asian power, one that could strengthen the US. presence in a region increasingly dominated by the Chinese economy. Press LEE South Korean protesters shout slogans during an anti-FTrally in downtown Seoul, South Korea, on Monday. The United States and South Korea concluded a landmark free trade agreement Monday, a U.S. official said, culminating 10 months of negotiations in a final week of intense haggling that just beat a key U.S. legislative deadline. The Korean signs read "Obstruct the FTA talks between the United States and South Korea." free-trad- pro-trad- . 211 : Hyun-chon- merce backs the deal and the AFLrCIO opposes it. US. officials disputed a South Korean assertion that goods from an industrial park in the North Korean border city of Kaesong could benefit under the deal. "What we have agreed to do is create a committee ... and within that committee we are willing to discuss" economic development issues, Bhatia said. "I would caution you against reading too much into that." Stephan Haggard, a North Korea expert at the University of California-Sa- n Diego, said: "You wonder if the two governments are on the same planet on this issue." Trade policy is at a crossroads in Congress. Growing numbers of lawmakers, as well as the public, question whether trade deals are net winners for Americans. Democrats want to add language to the deal requiring observance of international labor and environmental standards, ' which they want to serve as a Li template for other trade agreements. "We made very clear to the Korean side that ... there may be the need to revisit some of the provisions to obtain congressional passage," Bhatia acknowledged. The pact's fate may depend on Rep. Charles Rangel, the New York Democrat who chairs the House Ways and Means Committee. "There are a lot of talks with Rangel," the White House official said, expressing optimism about a compromise. "I think it will take a little bit of time because we all need to make sure both sides will be able to deliver what they promised to deliver, and that we mean the same things when we use certain words. That's the toughest thing when you are negotiating with someone you haven't had to deal with before." That's an admission that the Bush administration kept Democrats in the dark on trade talks. Now Democrats are trade's gatekeepers. "My sense is ... the administration does not want to give in to what the Congress wants, and that's a problem," said David Lewis, a trade expert with the consultancy Manchester Trade Ltd. "I think there's a bit of going on." The proposed U.S.-Kore- a free trade agreement would: within I Make duty-fre- e three years about 95 percent of bilateral trade in consumer and industrial products, with most other tariffs eliminated within a decade. immediI Make duty-fre- e ately about $ 1 billion worth of U.S. farm exports, eliminating most tariffs and quotas over a decade. US. beef and rice are still an issue. I Eliminate taxes that impede U.S. automakers' access to Korean markets. Create review mechanisms to help ensure that Korean regulations and taxes don't discriminate against U.S. auto exporters. engine-displaceme- Press LEE right shakes hands with US Deputy Trade Representative Karan Bhatia left during a joint news, conference following their meeting for e agreement (FTA) in Seoul on Monday. South Korean Trade Minister Kim ) e "It would be a severe blow to sten, who heads the U.S. relations with Korea and Petersen Institute for InternaU.S. credibility in Asia more tional Economics. The US. Chamber of Com- broadly," said C Fred Berg- - TO g free-trad- 1 HV- - . 'Ai IK LAS nnrrection 9 V,S' fonustjr n rni fll II II U w a month. glasses. No contacts. No better time to get the No latest in lasik vision correction. for a free screening. Because only the first 100 patients will enjoy payments as low as 40 dollars a month! You'll get the best in Wave Front Custom LASIK VISX Technology, now approved for every prescription! 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