Korea-US Trade Talks Have Stalled

Recent negotiations over the trade dispute over beef between Korea and the United States has bogged down as both sides are finding it hard to establish a middle ground.
According to the Ministry of Agriculture and Forestry on January 29, there was no agreement between the two countries, so one more day will be needed to reach a conclusion.
The U.S. is asking to carry over 1998's leftover portion, amounting to 117,000 tons of beef, to 1999's quota together with the abolition of any distinctions made in retail outlets between Korean and American beef products.
It also demanded a lowering of import tariff rates on beef for more distribution in the Korean market.
Korea explained that the drop in American beef imports was strictly due to the recession in the Korean economy.
Korean delegates offered to do away with separate display cases for American beef in department stores, but will not make concessions in the 42.3 percent tariff rate for it was agreed upon at the Uruguay Talks.