Agency to study U.S.-Korea trade deal |
|
|
|
Published
:
Mon, 30 Apr 2007 23:19
|
WASHINGTON (AP) - The U.S. International Trade Commission said Monday it will investigate the economic effects of the proposed U.S.-South Korea free trade agreement, which has proved controversial with U.S. automakers such as Ford Motor Co. and DaimlerChrysler AG's Chrysler Group.The two countries completed negotiations on the pact April 2, but neither government has yet ratified the deal.The ITC will hold a public hearing on the agreement June 7. The ITC is an independent federal agency that performs economic research on trade agreements and investigates unfair trade practices.The agency said it intends to submit a report on the agreement to the president and Congress by early October. The report will be made public.Ford and Chrysler said they were 'extremely disappointed' in the agreement when it was announced earlier this month. While the pact eliminates tariffs on autos in both countries, the U.S. auto companies say it allows South Korea to maintain other trade barriers to autos, such as a discriminatory tax system and a unique emissions standard.Shares of Ford dropped a penny to $8.03 in aftermarket activity, after falling a penny to close at $8.04 on the New York Stock Exchange. DaimlerChrysler jumped $1.03 to $81.54 in aftermarket trading, after dropping 82 cents to finish at $80.51, also on the NYSE.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
South Korea says to start free trade talks with EU shortly 