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effects on over-all market condition. However, this reorganization of car market will bring problems such as overconsumption in energy terms. Eventually more energy-consuming cars might be able to bring the aggravation of BOP. 5. Also, larger reduction in larger car price implies some social injustice in income distribution : larger sales for the richer. The crisis Korea is facing now has aggravated the fair income distribution. And the agreements will fan the increasing gap of income differences. As shown in table1, it is easily found that one to purchase Enterprise3.6 will have amazing price cut amounting 4,594,000 won while one to purchase Matiz will have only 48,000 won cut. 6. Because of serious economic depression, the agreements will not bring immediate demand for foreign cars. However, there will be surely more demand for foreign large cars due to lower price for acquisition as Korea escapes out of depression. After Import Diversification is abolished in June 1999, the sales growth of foreign cars especially the Japanese cars will be faster than expected. Thus, Korean auto makers need to work for their competitiveness in order to keep their market share in large car market. 7. And the agreement about talks procedure to hold yearly auto talks leaves the chances open to have conflicts between Korea and the U. S. about the auto industry realized every year. 8. Moreover, the agreement that tariff rate will be discussed in multilateral negotiations in WTO and in APEC where the U. S. takes the initiative and main role leads us to judge that dispute on tariff rate will come again in the near future. In sum, the agreements have negative aspects as well as positive aspects. Unlike the welcoming attitude of newspapers, the agreement seems like a tentative measure that will have side-effects and will bring further conflicts. For the future, it is needed to understand about the American auto policy and to seek fundamental measures to cope with American pressure. The U. S. Auto Trade Policy toward Korea Major Trade Negotiation Partners of the U. S. ?????????The major U. S. auto trade policy is non-discriminative application of MFN(Most Favored Nation) clause to all countries but for several special cases. For the special cases, the U. S. has taken discriminative policy toward some countries through bilateral agreements. The U. S. auto trade policy has been focusing on some countries that export large number of auto vehicles to the U. S. and other countries that import small number of American auto vehicles for their market size. Up till now, the U. S. has not given much pressure on the areas where American auto makers extended their businesses already or where American auto makers took a form of strategic joint-venture with local

businesses even though the trade deficit with those areas is seemingly great because the trade unbalance is not substantial matters. This case is the cases in Canada, Mexico, and Western Europe.-protection of own auto makers???? expansion of free trade???? Because American auto makers are quite influential in other regions, the U. S. has not needed to press. On the other hand, the U. S. has pressed Japan and Korea where American auto makers do not have large market share for their market size to open up the markets. Table 2: XThe U. S. Protection Measures | The U. S Auto Trade Policy toward Japan In 1980, the American government pressed by American auto makers and labor union induced Japan to increase local production of complete autos and components in the U. S. by the means of Askew-Yasukawa agreement. And VER (voluntary export restraint) was mainly used for the protection of American auto industry limiting Japanese car import within 1,650,000 to 2,3000,000 units for 13 years (1981 1994). From 1982, the U. S. raised issues about Japan’s import procedure, aiming at auto export to Japan, and requested to simplify the import steps. Since the local production reached to some extent, the U. S. changed its concern to exporting American component to Japan. So, MOSS (Market Oriented Sector Specific) talks questioned about the ‘keiretzu’ relationship of auto makers and component suppliers from 1987. In 1991 the U. S. diversified its requests into ‘fair market competition’ including Japan’s formal admission of standardization, tax system, the relations of makers and dealers, Japan’s unique distribution system and so on. The trade policy of Clinton administration(1993) became aggressive and tended to seek ‘tangible outcome’. Thus, Clinton administration demanded on Japan to purchase American component to the extent that American component had 20% market share in A/S component market. The U. S. demanded 20% because other OECD members was purchasing American component by average 20%. However the 20% was calculated with the 77% in Canada, 3.5% in Germany, 1.8% in France, and 2.5% in the U. K. Therefore, Japan purchased more American component than any other European countries except Canada and Mexico that have close linkage with the U. S. This compulsory demand to meet 20% minimal limit raised criticism even in the U. S. Anyhow Japan narrowly escaped from setting numerical minimal limit but has to report the implement of the Japan-U. S. agreements to the U. S twice a year. Table 3: XHistoric Overview of the U. S. Auto Trade Policy toward Japan | The U. S. Auto Trade Policy toward Korea The U. S. had not raised any questions for a while after 1988 when Korea opened Korean auto market. In the early 1990s, the U. S. only requested to rectify the tax investigation of foreign car owners since the tax investigation did harms on foreign car sales. But in 1993, Clinton administration started to intensify the pressures on Japan in order to eliminate trade deficit. At that time, raising issues and pressing for open market by the U. S. were intensified in Korea too. The reason why the Korea-U. S. trade conflicts in auto industry came to the fore is, firstly, the



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