September 14, 2006

South Korea tells US beef import tariffs negotiable

South Korea would not be moved on its strong stance on rice but give more leeway in terms of beef tariffs, South Korea's agriculture Park Hong-soo told local media on Wednesday (Sep 13).

US trade officials have urged South Korea to better its offer on the opening of its agricultural sector during the third round of negotiations on a bilateral free trade deal last week.

Park said there is no room for negotiation for rice but would consider lowering beef tariffs if it became part of future talks. South Korea's tariff on US beef imports currently stands at a hefty 40 percent.

The country has already made separate rice agreements to the US in previous WTO negotiations.

Both countries hope to reach a final deal by the end of the year.

South Korea, once the world's third-largest export market for American beef, lifted bans on US beef last week. The first shipments are likely to arrive in South Korea in late September and be on the markets in October.