Free Trade Agreement (FTA) talks between Korea and US did not yield any results as negotiations failed measurably over the contentious issues of trade remedies, labor, intellectual property rights and so on.
After the end of third round of talks, Korean negotiator Kim Jong-hoon informed media that there was no progress on any issues as both the sides basically stuck to their demands. The fourth round is scheduled from October, 23 to 27 in Korea.
Both the sides could not resolve their differences on issues like tariff elimination in textile industry, trade issues and auto industry.
Korea vehemently asked for the opening of markets of industrial goods and textiles and the US submitted a revised plan under the Korean pressure but it still fall short of their expectations.
It was the other way round with regard to agriculture sector where US pushed Korea hard. Both the sides mainly discussed items like wheat and feed corn whose export from US is large and Korea's production is dismissive. This time around US was not satisfied with the talks.
Trade talks collapsed as both sides do not even bother to make a fresh start. Negotiators from both the countries have decided to pace up the talks for resolving the differences.
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