In a blow to the U.S., President Barack Obama and South Korea's Lee Myung-bak said more time was needed to work out a pact to boost trade between the nations.
S. Korea, US fail to break trade impasse - MiamiHerald.com
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The Obama administration suffered a major setback Thursday with the announcement that it couldn't break the impasse over a long-anticipated U.S.-South Korean trade accord, continuing a rocky start for the U.S. at a conference of top world economies in Seoul. The news followed more harsh criticism by China and Germany, the world's two biggest exporting powers, of the recent U.S. Federal Reserve move to buy $600 billion in Treasury bonds, depressing the value of the dollar.S. Korea, US fail to break trade impasse - MiamiHerald.com
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