Updated Monday, June 18, 2007 0:00 am TWN, SEOUL, AFP U.S. offers to revise trade deal with S. KoreaThe U.S. Trade Representative office on Saturday presented a revised pact which had April’s original agreement partly modified, added or deleted, the ministry said in a statement. U.S. trade negotiator Wendy Cutler visits Seoul from June 21-22 to explain those changes in the sectors of labor, environment, pharmaceuticals, national security, government procurement, harbor safety and investment, it said. “The government will decide on how to respond after scrutinizing the U.S. proposal and consulting with relevant ministries and agencies,” it said. The U.S. measure has been expected since May, when Congress and the White House agreed to a bi-partisan deal that sets social and environmental standards for free trade agreements. U.S. ambassador to Seoul, Alexander Vershbow, has since said work should be done to adapt the deal to reflect new U.S. policy. It would require pending pacts to include five core International Labour Organisation standards and also laws to implement obligations under seven multilateral environmental agreements. South Korea and the U.S. , whose two-way trade reached US$74 billion in 2006, reached their free trade agreement in early April after 10 months of tough negotiations. It is expected to be signed on June 30, before U.S. President George W. Bush’s “fast-track” trade promotion authority expires, but the deal also needs ratification by the legislatures of both countries. Some U.S. Congress members are increasingly skeptical of the deal. With protectionist sentiment rising ahead of 2008 elections, legislators from the Democrat-controlled Congress fear the deal will worsen the U.S. trade deficit and does not go far enough in dismantling trade barriers, especially in the key auto sector. | Asia Breaking News Most Read |