U.S., Korea Begin Trade Talks: Seoul and...

U.S., Korea Begin Trade Talks: Seoul and Washington began talks on opening South Korean markets to U.S. telecommunications goods and services, U.S. officials said. Washington has threatened to impose sanctions in the form of 100% duties on some South Korean telecommunications imports next February if no progress is made in opening the domestic market. “We want these talks to focus mainly on telecommunications products and not so much on services,” a Korean official said. The United States, which absorbs about 35% of South Korea’s exports, posted a total trade deficit with Seoul of more than $18 billion over the past two years.