In Brief : S. Korea OKs U.S. Trade Talks
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SEOUL — South Korea has agreed to hold talks with the United States to head off trade sanctions threatened for restricting imports of U.S. telecommunications products, Trade Ministry officials said today.
“We want a settlement before the telecommunications issue goes to the U.S. Congress,” one official told reporters. A U.S.-South Korean trade meeting is expected to be held in Washington early next month.
“We are prepared to make some concessions though we believe such an attitude should be mutual for success in any negotiation,” he said.
The officials said the United States has told Seoul that it considers South Korea as maintaining a closed telecommunications market, and asked for talks on removing trade barriers.
U.S. officials have said trade sanctions in the form of 100% tariffs on some imports could be imposed unless the South Korean market is opened to such American products as electronic mailing systems.
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