|
South Korea and the U.S. agreed in 2007 under former President George W. Bush to a free trade deal that would slash tariffs and other barriers to trade. The countries' legislatures, however, failed to ratify the deal as their farmers and labor groups opposed it, and Obama has hinted he might seek to renegotiate it. Obama told Lee that he understood there were difficulties with the deal on both sides, but that he wants to "make progress" on it, the officials said. The G-20 summit brings together the world's richest and developing economies. Leaders hope to approve language vowing tough, coordinated rules for financial markets, plus efforts to spark global recovery, while avoiding costly trade disputes. Obama and fellow leaders worked in their half-day of sessions Thursday
-- all conducted behind closed doors at the massive ExCel Centre on the outskirts of London to clear up divisions over how far to go with tougher financial regulation. Making his first splash abroad as president, Obama says the summit will reflect "enormous consensus" on how to grapple with the world's gravest economic crisis since World War II. Obama, his helicopter grounded by the fog, arrived by car at the facility. The summit's host, British Prime Minister Gordon Brown, gave Obama another warm greeting following their upbeat visit and news conference Wednesday. Police in London said more than 80 people were arrested in sometimes violent clashes with protesters who vandalized property in the city's financial district ahead of the summit. Obama also has meetings on the summit sidelines with Indian Prime Minister Manmohan Singh and Saudi Arabia's King Abdullah. He will likely reassure Singh about plans to boost aid to India's rival, Pakistan. With the Saudi leader, oil prices and Mideast peace efforts are on the agenda, with perhaps a delicate question about the king's recent shake-up in succession plans.
[Associated
Press;
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor