05/21/08 Full South Korea Circle

A lot of encounters in life seem to involve a circle. World trade can experience circles also. I'm Jeff Keane; I'll be right back to explain. In 2003 the United States lost $815 million in export sales as South Korean officials banned all U.S. imported beef to their country when a dairy cow imported from Canada to the United States was diagnosed with BSE. Finally, after many negotiations South Korea allowed U.S. deboned beef from animals under 30 months of age to be imported and marketed. Over zealous South Korean inspections, and poor attention to shipping specifications on the U.S. side lead to slow downs in the beef trade resumption and a basic closure by October 2007. I have to admit that during and since that time I have been critical of South Korean government's nit-picking inspections, American exporters inattention to shipment quality, and disappointed in our politicians and trade negotiator's less-than-strong policies to get U.S. beef back to South Korea. Free trade agreement talks with South Korea eventually made resumption of U.S. beef imports a high priority in many U.S. lawmaker's eyes. I believe that priority influenced South Korea to finally make the move to open its borders to all U.S. beef and beef products. That's full circle back to 2003. I only hope the circle ends here and doesn't follow the on again, off again pattern of the last two years. I'm Jeff Keane.