Originally published Saturday, April 19, 2008 at 12:00 AM
Editorial
Korean trade deal works for the state
President Lee Myung-bak is the first South Korean leader to visit Camp David and he comes bearing a valuable gift to celebrate today's historic meeting with President George W. Bush.
President Lee Myung-bak is the first South Korean leader to visit Camp David and he comes bearing a valuable gift to celebrate today's historic meeting with President George W. Bush.
On Friday, trade negotiators agreed to fully reopen South Korea's market to all U.S. beef and beef products. Closure of the Korean market in December 2003 because of mad cow concerns from a case in Washington has haunted a pending free-trade agreement.Ratifying the U.S.-Korea Free Trade Agreement will lift the health claim, open access and eliminate a 40-percent tariff on U.S. beef. Friday's announcement is a welcome breakthrough, and representative of this state's stake in the free-trade agreement.
Washington's congressional delegation is duty bound to the state's economy to stay focused on trade and be politically adroit enough to exploit opportunities. A big one just happened.
Neither national legislative body has endorsed the trade agreement because of a muddle of technical issues and local politics.
Lee brought a new conservative government to power at South Korea's presidential residence, the Blue House. Earlier this month, his party secured a working majority in the National Assembly.
Now the election cycle is in full swing here. In the Congress, Democrats have the South Korea agreement queued up behind trade pacts with Colombia and Panama. This pending deal with the United States' seventh-largest trading partner must not be stalled or held hostage by the emotions and arm-waving that impede the others.
Negotiators have worked through regulatory thickets on taxes, tariffs and standards to find common ground on autos and auto parts and financial services. Lee has pledged confidence-building measures for foreign investors and even better access to real estate, education and health care for foreign workers.
Building better trade relations with South Korea reinforces our partnership with a valued ally and a growing economic power in Asia. South Korea is a good friend.
Let us also be blunt about enlightened self-interest. The pending agreement is great for the state agricultural sector: wheat, soybeans, cherries, potatoes and, more and more, wine. Wake up and smell the coffee. A 29.5-percent tariff on roasted beans is eliminated.
South Korea buys our planes, software and electronic products. The agreement is stronger on intellectual property rights.
Washington's congressional delegation must be counted on to make this agreement a reality.
Copyright © 2008 The Seattle Times Company
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