“If we rush something that can’t garner popular support that’s going to be a problem,” said Obama. “We think we can make the case, but we want to make sure that case is air tight.”
The United Auto Workers union and Ford Motor Co. are opposing the trade agreement, citing the need to address South Korea’s tax and regulatory regimes. The U.S. share of the South Korean auto market is just 10.1 percent, down from 11.3 percent in 2008. The beef industry, on the other hand, is asking for the deal to be finalized quickly to avoid losing further market share to Australian and Canadian beef exporters. Under the terms agreed in 2007, the FTA would phase out South Korea’s 40 percent tariff on U.S. beef over 15 years.