Posted on 03/26/2018 8:59:45 PM PDT by NImerc
SEOUL, South Korea — South Korea has agreed to further open its auto market to the United States as the two countries prepare to amend their 6-year-old trade agreement following complaints by President Donald Trump.
...It marks the first successful renegotiation of a trade deal for the Trump administration — which used the threat of 25 percent steel tariffs at the bargaining table — and comes as the allies sought to resolve disputes before planned meetings with Kim Jong Un.
(Excerpt) Read more at post-gazette.com ...
If his opponents knew the first thing about bargaining, they would have been expecting this. But they’ll attribute it to dumb luck.
Big Win... way to go President Trump...
That’s just for the rich guys there though, but you want to sell to the regular guys and the salaries are lower there and the gas price is higher.
According to the data from https://www.numbeo.com/ when adjusting for salary and gas price difference the gas cost pain is 3.3 times more higher in Seoul than in Austin. Would hit the F250 Super Duty sales pretty hard if Texas suddenly had 3.3 times more expensive gas.
I now some never Trumpers
some are very good friends of mine and will remain so because they have been Very Good friends for years and have treated me well.
But i cannot for the life of me understand the blind hatred towards this man and the lack of rational thinking it causes.
I’m a NYers from Staten Island. He’s a NYer from Queens.
Are we as conservatie as many here are. I’d like to think we’re close.
We’ve grown up in a stalinist state where guns are near impossible to get legally. Illegally is a different story :)
But that doesn’t mean we wouldn’t take the 2nd amendment completely to heart if we were in power, which Trump is.
I know many here are mad about the “bump” issue, but he’s doing his best.
It’s all relative. Whether they sell one or a 1000, at least the market is open for business. Something that has never happened before.
South Korea has a 400 percent import duty for all foreign vehicles/
Means a 20,000 dollar Harley Davidson will cost ya 100,000 over there.
A 40,000 Cadillac will go ya about 160,000
And we allow them to dump how many tens of thousands of crappy Hyundai or Kia’s?
“400 percent import duty for all foreign vehicles”
That is absolutely false! You must have read it from some fake news site. How bad your internal estimation capability must be that you’d believe something that ridiculous!
Not really. Koreans, like Japanese, do not buy American automobiles. They stick like glue to their own companies. These countries depend upon manufactured exports to survive and they want their companies alive and well.
krosan, I lived there baby.I saw it first hand.
Check out what a bottle of JOhnny Walker or an Amanna fridge costs there pal.
South Korea’s octopus-like conglomerates like Hyundai operate in many industries. Hyundai is involved in heavy equipment, shipyards, steel, and autos. Because they make their own steel, they can drive down costs to the point that no one can match the price point.
However, Hyundai and Kia have suffered MASSIVE sales declines in the US and Chinese markets. Down like 20% every year. They are not invincible and the deficit with South Korea is free-falling.
http://nwww.koreaherald.com/view.php?ud=20170704000881
It’s not about not being “able” to meet their standards. They still must meet US safety standards, which are among the toughest in the world. There is little difference between the advanced country standards like North America, Europe, Japan, Australia, and Korea. Mostly the differences are small quibbles.
It sounds nice to make a deal like this, but I still think they should have to meet their standards before shipping.
Yuge!! :)
I get what some of you are saying, and why you are down-playing this. You have valid points. But here is the thing, this is the Pittsburgh Post Gazette, the democrat rag of choice in western PA. They are giving DJT credit for a “landmark” trade deal and tying it directly to the tariffs.
Second, this calms the pearl-clutchers who are screaming trade war and ditching stock over said tariffs an makes the porn-obsessed media look stupid for their choice of focus. “You mean the guy is nailing trade and porn stars?”
Finally, I think this conveys a sense of willingness in restructuring trade deals that may bring others to the table. Just my take.
But will they be able to see over the dashboard.
We saved South Korea from communism. We subsidized its economy for decades.
We continue to subsidize its defense.
And they do their best to stop our goods unless of course they are ones unavailable in country.
Certain drugs and military goods.
Their IRS info today says it is about 8% tax.
Sorry that link didn’t work. It worked for me on Microsoft Edge. Here is another one.
http://www.businesskorea.co.kr/english/news/industry/18866-sluggish-sales-us-hyundai-kia-motors-suffer-sales-us-fell-18-june-year-ago
I thought trade “wars” were impossible to win - heard it from the WSJ/CNN/FR concern trolls, etc....
crappola pal.
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