By Kim Jae-kyoung
Staff Reporter
Concern has been growing here over the United States’ move to revive its old trade retaliation tool, Super 301, to open Asian markets ahead of its presidential election.
Market analysts don’t rule out the possibility that the Bush administration will accept a call from its Congressmen for the revival of the ``Super 301 provision’’ as part of steps to give more American goods access to Asian markets.
``The U.S. has strong points in intellectual property and the service sector. But nowadays U.S. companies go to Asian nations, such as India and China, to find cheap labor, which has resulted in job loss in the U.S.,’’ Samsung Economic Research Institute senior economist Jeon Young-jae said.
``Accordingly, the U.S. wants to take tougher action against a few Asian countries, in a desperate bid to offset losses in the U.S. job market,’’ he added.
Super 301 refers to a section of the U.S. trade law that allows exporters to seek compensation for or elimination of unfair trade barriers by other countries.
He pointed out that if the provision were revived, it would deal a blow to the South Korean economy, especially the automobile industry.
According to trade and investment promotion agency KOTRA, nine top Democrats, including House minority leader Nancy Pelosi of California and House whip Steny Hoyer of Maryland, urged President George W. Bush on Thursday to bring cases, including on Japan’s currency intervention, to the World Trade Organization (WTO) and revive the trade retaliation provision.
In a letter to the U.S. president, the nine said Bush has failed to take tough action to protect American jobs from unfair trade practices.
``After the loss of almost 3 million manufacturing jobs since January 2001, and the growing problem of outsourcing in the services sector, it is time to start producing results for American workers, farmers and businesses,’’ the letter said.
The Democrats listed several practices warranting a challenge at the WTO _ for example, South Korea’s alleged imposition of non-tariff barriers against autos and auto parts, the limits placed by China on ``trading rights’’ allowing imports and on ``distribution rights’’ to sell those imports in China, as well as the imposition of China-only technology product standards.
``Democrats’ demands are considered part of presidential campaign against the Republican Party,’’ a KOTRA official said.
``But if stagnant job markets continue in the U.S., the Super 301 provision may be revived regardless of the result of the presidential election,’’ he said.
A Seoul official said even the U.S. acknowledges that the South Korean market has opened wider and the provision would not have any meaningful effect on the country.
The official added that generally South Korea-U.S. trade relations have been good. Friction is limited only to technical aspects, he said.
kjk@koreatimes.co.kr
댓글 안에 당신의 성숙함도 담아 주세요.
'오늘의 한마디'는 기사에 대하여 자신의 생각을 말하고 남의 생각을 들으며 서로 다양한 의견을 나누는 공간입니다. 그러나 간혹 불건전한 내용을 올리시는 분들이 계셔서 건전한 인터넷문화 정착을 위해 아래와 같은 운영원칙을 적용합니다.
자체 모니터링을 통해 아래에 해당하는 내용이 포함된 댓글이 발견되면 예고없이 삭제 조치를 하겠습니다.
불건전한 댓글을 올리거나, 이름에 비속어 및 상대방의 불쾌감을 주는 단어를 사용, 유명인 또는 특정 일반인을 사칭하는 경우 이용에 대한 차단 제재를 받을 수 있습니다. 차단될 경우, 일주일간 댓글을 달수 없게 됩니다.
명예훼손, 개인정보 유출, 욕설 등 법률에 위반되는 댓글은 관계 법령에 의거 민형사상 처벌을 받을 수 있으니 이용에 주의를 부탁드립니다.
Close
x