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Trump encouraged by talk of 'a level playing field' on trade with South Korea

South Korea is a longstanding American ally, but President Donald Trump has spoken harshly about U.S. trade imbalances and threatened to tear up the bilateral trade pact. "We will do more to remove barriers to reciprocal trade and market access," Trump said, adding that the two leaders had talked about the thorny trade areas of steel and autos. Trump said he was encouraged by South Korea's President Moon Jae-in's assurances that he would seek a level playing field for American workers and businesses, particularly automakers. A joint statement said the two sides had agreed to work together to reduce over supply of basic materials such as steel and non-tariff barriers. It also said Trump had accepted an invitation from Moon to visit South Korea this year. Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies think tank, said it was unwise for Trump to air the trade issue so publicly. "Public complaints by Trump about unfair trade and inadequate defense spending provide opportunities for China and North Korea to drive a wedge between the allies," she said. The U.S. goods trade deficit with South Korea has more than doubled since the U.S.-Korea free trade pact known as KORUS took effect in 2012. The agreement was forecast to boost U.S. exports by $10 billion a year, but in 2016 they were $3 billion lower than in 2011. At the start of Friday's talks, U.S. Commerce Secretary Wilbur Ross said the largest component of the deficit was automotive trade and many non-tariff barriers to U.S. auto exports to South Korea remained. "I think the way to address it is to deal product by product with what we can do to change the export side and what we can do to reduce the bad imports side," he said. Ross said later on Friday that some progress had been made in the talks. The current pact was agreed to despite protests by supporters of Moon, who was then in opposition. But analysts have suggested that given the need to preserve a unified front in the face of a hostile North Korea, there could be compromise on both sides to resolve issues. (By David Brunnstrom and Lisa Lambert. Additional reporting by Fatima Bhojani, Roberta Rampton, Tim Ahmann, David Chance, David Lawder and Eric Beech; Editing by Bill Trott and Andrew Hay) Related Video: Image Credit: Kim Hong-Ji / Reuters Government/Legal Genesis Hyundai Kia trade

Carmakers ask Trump to revisit fuel efficiency rules

Car companies operating in the US are required to meet stringent fuel efficiency standards (a fleet average of 54.5MPG) through 2025, but they're hoping to loosen things now that President Trump is in town. Leaders from Fiat Chrysler, Ford, GM, Honda, Hyundai, Nissan, Toyota and VW have sent a letter to Trump asking him to rethink the Obama administration's choice to lock in efficiency guidelines for the next several years. The car makers want to revisit the midterm review for the 2025 commitment in hopes of loosening the demands. They claim that the tougher requirements raise costs, don't match public buying habits and will supposedly put "as many a million" jobs up in the air. The Trump administration hasn't specifically responded to the letter, although Environmental Protection Agency nominee Scott Pruitt had said he would return to the Obama-era decision. The automakers' argument doesn't entirely hold up. While the EPA did estimate that the US would fall short of efficiency goals due to a shift toward SUVs and trucks, the job claims are questionable. Why would making more fuel efficient vehicles necessarily cost jobs instead of pushing companies to do better? As it is, even a successful attempt to loosen guidelines may only have a limited effect. All of the brands mentioned here are pushing for greater mainstream adoption of electric vehicles within the next few years -- they may meet the Obama administration's expectations just by shifting more drivers away from gas power. This article by Jon Fingas originally appeared on Engadget, your guide to this connected life. Related Video: News Source: ReutersImage Credit: Daniel Acker/Bloomberg via Getty Images Government/Legal Green Chrysler Fiat GM Honda Hyundai Nissan Toyota Volkswagen Fuel Efficiency CAFE standards Trump

Hyundai and Turin IED collaborate on Kite buggy concept for Geneva

The last time Hyundai's European Design Center collaborated with Turin, Italy's Instituto Europeo di Design (IED), we got the PassoCorto concept in 2014. That four-year-old vision made an appearance in recent news feeds, as a potential harbinger of a mid-engine Hyundai sports car when the Theta II engine arrives. The Korean carmaker is at it again with IED, and this time the two have worked up a doorles, roofless, windowless buggy referred to as the Kite concept, planned for display at next month's Geneva Motor Show. The full-sized scale model measures 12.2 feet long, 7.3 feet wide, and 4.7 feet high — that's about four inches shorter and one inch taller than a Mini Cooper, but 20 inches wider. Being a model, the Kite won't be fitted with any powertrain, but the students behind the project envision one brushless electric motor on propulsion duty. This is the first of IED's previous 14 automaker collaborations to have an interior, so the 15 students from nine countries who worked on the project did their homework, tapping Gruppo Sila for the shift-by-wire gearbox, and Sabelt for the seat and seatbelts. Guests to the stand will be able to experience the Kite concept through virtual reality, while the whiz-bang gearbox gets shown in a separate, dedicated area. The design school's annual project serves as the thesis project for the Masters in Transportation Design program. Last year's offering, the Scilla concept prepared with Pininfarina, was a 180-degree departure from the Kite, but the students spent time off-road recently with their McLaren crossover concepts of 2010. If you're smitten with this year's product, you won't be able to buy it, but Hyundai does sell an actual kite. Related Video: Featured Gallery Hyundai Kite Concept News Source: Car Body Design via Carscoops Design/Style Green Geneva Motor Show Hyundai Concept Cars Electric Off-Road Vehicles 2018 Geneva Motor Show