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Management at Ford are calling foul at a new free trade agreement in the works between the EU and South Korea.

“Right in the middle of the worst economic crisis for 50 or 70 years, some parts of the European (Commission) are advocating a free trade agreement with Korea that is very, very one sided in favor of Korea,” Booth told Reuters.

EU Automakers issued a statement shortly beforehand in criticism of the trade agreement as well:

Booth’s remarks followed a statement on Wednesday by the European automobile industry’s trade association, ACEA, that called on EU governments not to accept a trade deal with South Korea “before a balanced outcome is assured in order to safeguard competitiveness and employment levels in Europe.”

The proposals allow South Korean manufacturers to import a higher percentage of parts from neighboring countries and claim the duties back when vehicles are shipped to European markets, effectively opening Europe to cheap imports, ACEA said.

Check out the complete article at Reuters.

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