Mar 10, 2014
By Scott Walker
Stephen Harper has arrived in South Korea.
The Prime Minister is expected to announce a free-trade deal with the government in Seoul.
It’s still unclear whether Harper will actually sign the final document, or announce an agreement-in-principal.
The agreement has been in the works for ten years. Harper calls it a gateway to deals with other Asian nations.
The Canadian auto sector is worried that the deal could result in cheaper Korean cars flooding the market. Canada currently imposes a 6.1% tariff on Korean auto imports.
International Trade Minister Ed Fast says Canada needs this agreement. He points out that Canada has lost business to South Korea since the United States and the European Union signed trade agreements with the Asian economic powerhouse.