South Korea and the United States have concluded their first day of the third round of talks over possibly amending their bilateral free trade agreement,... after more than seven hours of negotiations in Washington on Thursday, local time.
South Korea's Trade Minister Yoo Myung-hee, the director general for FTA negotiations,... led the talks with her counterpart, Assistant U.S. Trade Representative Michael Beeman.
According to Seoul-based Yonhap News Agency,... Korean representatives argued that the 25-percent tariff on steel imports scheduled to be imposed later this month is not fair,... and investor-state dispute settlements need revising.
Washington reiterated its stance that Korea needs to work to end the large trade imbalance in industrial goods, including automobiles and auto parts.
The two sides will resume their second day of talks on Friday, local time.