Obama Leaves Asia Empty-Handed


by John Chan
WSWS
November 22, 2009


South Korea, the final leg of US President Obama’s Asian trip, was no more successful that his other stops. In Japan, Singapore and China, Obama failed to secure any significant economic concessions and came under fire for growing US protectionism. In South Korea on Thursday, he made no advance with an equally uncompromising South Korean President
Lee Myung-bak toward a free-trade deal between the two countries—a major item on the agenda.

The Bush administration signed a free-trade agreement (FTA) with the previous South Korean president, Roh Moo-hyun, but it has stalled in the legislatures of both countries. Democrats in the US Congress have demanded the removal of tax and regulatory obstacles that restrict the sale of American autos and white goods in South Korea. Seoul is insisting on the protection of its agricultural sector from US exports.

Sharp differences over these issues were barely papered over. After meeting with Lee, Obama declared that he was committed to moving the agreement forward, but acknowledged that major issues remained. Lee in turn said that he was ready to address the sensitive auto issue, but added: “The one thing I want to clarify is that Korea’s agricultural and services industries also feel the FTA with the US is unfair.â€