US and South Korea in trade talks

Learning English - Words in the News

30 March, 2007 - Published 12:01 GMT

US and South Korea in trade talks


The US wants more access to Asian car markets
American and South Korean negotiators are working against the clock to finalise a free trade agreement which would be the largest for the US since it signed a deal with Mexico and Canada in 1994. This report from Charles Scanlon:

Listen to the story
South Korea is one of the world's most successful trading nations but the population remains deeply ambivalent about the benefits of open markets. There's particular suspicion of US motives and that's helped fuel frequent rowdy protests during the ten months since the free trade talks began. Farmers are worried they'll be driven out of business by imports of cheap food and South Korea still tries to protect its car industry from imported vehicles.
However the government sees big potential benefits in a trade deal. It would lock in access to the world's biggest consumer market and give Korean manufacturers an advantage over their Japanese and Chinese competitors. The US, for its part, sees opportunities in what's long been a notoriously difficult market for imported goods and services.

There are also strategic considerations. The alliance between the two countries has been strained. As South Korea leans increasingly towards China, a free trade agreement could help boost relations. The negotiators have until the end of Friday to reach agreement and a fast track legislation that would allow passage through the US congress without amendments.

Charles Scanlon, BBC, Seoul

Listen to the words
deeply ambivalent
strongly feeling opposite things at the same time; here, being both positive and suspicious about open markets

rowdy
noisy and disorderly

driven out of business
here, forced to stop farming (because people will stop buying their produce which is more expensive than imported food)

lock in access
secure entry

consumer
here, to do with people who buy goods or services

notoriously difficult
well known as being difficult (the phrase has a negative connotation)

strategic considerations
long-term plans of action (in business or politics)

leans increasingly towards China
has more and more close relations with China

boost
make stronger

a fast track legislation
a law or set of laws that are approved quickly, without long debates