Korean ‘No Deal’ May Damp U.S. Trade Accords Prospects

Before heading to Seoul, U.S. Trade Representative Ron Kirk was warned by Senator Max Baucus that “no deal is better than a bad deal” when it came to negotiating changes in a free-trade agreement with South Korea.

The announcement by the U.S. and Korean presidents yesterday that they failed to agree on changes to beef and auto provisions may make “no deal” the reality for U.S. trade accords across Asia and the world.