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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

Minivans and hybrids shopped by men and women equally

Men love fast, exotic cars, and women want something safe and practical – at least that is the way conventional thinking goes. But a new study challenges these old beliefs. According to the auto information aggregators at iSeeCars, both sexes shop for minivans and hybrids equally. The study also dug deeper into the different browsing habits between genders. For instance, women are twice as likely to shop for Kia and 67 percent more likely to shop for Hyundai. Men are seven percent more likely to buy American cars. Both sexes shop the German brands equally. It seems that men might be slightly greener in their shopping because they are twice as likely to browse electric cars and two and a half times more likely to look at diesels. Still, the old stereotype of men wanting a more performance-oriented car is not entirely false. They also are more likely to look at cars that cost over $45,000, and men are still more likely to buy a sports car. "Men like fast, flashy cars. They are performance oriented, even if they have to shell out more money," Phong Ly, cofounder and CEO of iSeeCars, said in an interview with CBS MoneyWatch. "Women are looking for the best value." The iSeeCars study got its data directly from dealers and online sellers like eBay Motors, then determined sex based on first name and excluded gender-neutral names. What it shows is that even if men might like browsing for fast cars, practicality and economy win out in the end. It's still fun to look, though. News Source: iSeeCars via CBS News MoneyWatchImage Credit: Shutterstock / Deklofenak Hyundai Kia Car Buying Minivan/Van Electric Hybrid

Automatically efficient | 2017 Kia Optima Hybrid Quick Spin

Automakers are stuck between a rock and hard place with hybrid vehicles. On one hand, efficient hybrids are a necessary evil – for lack of a better phrase – to hit increasingly stringent CAFE standards. But on the other hand, low fuel prices mean it takes an increasingly long time for consumers to see a return on the investment of a hybrid's price premium. These factors have pushed automakers even harder to squeeze every mile per gallon possible out their hybrid offerings. That's inevitably led to powertrain innovations designed to maximize just how long and how far hybrids can run on pure electric power and how often the gas engine can shut down. Occasionally, this doesn't work out all that well – as is the case with the new Nissan Rogue Hybrid, for instance – but there are companies getting things right. Kia, with its 2017 Optima Hybrid, is one of them. Drive Notes Kia didn't try to get too creative with the Optima Hybrid's powertrain for 2017. There's a 2.0-liter, naturally aspirated, four-cylinder gas engine, a 38-kilowatt electric motor, and a 1.62-kWh battery pack. Total system output is 192 horsepower and 271 pound-feet of torque, with EPA estimated fuel economy ratings of 39 miles per gallon in the city and 46 mpg on the highway for a 42-mpg combined rating. That's all spiffy. But taking a six-speed automatic and replacing the torque converter with a clutch and the electric motor, Kia built a hybrid sedan that smoothly intertwines disparate power sources as well as a conventional hybrid like a Toyota Prius, while allowing the Optima Hybrid to take greater advantage of zero-emissions systems. Lift off the throttle and the four-cylinder engine shuts down and lets the 50-hp electric motor handle light, constant-throttle cruising below 62 miles per hour. Dig deeper into the gas, and the petrol powerplant quickly restarts and delivers the bulk of the Optima's power for heavy acceleration and higher-speed conditions. The Optima's back and forth is rarely disjointed – Kia's hybrid feels a lot like its conventionally powered model in normal driving. It's only under sudden, wide-open throttle situations, where the hybrid systems feel caught off guard, that the Optima Hybrid feels flatfooted. A less obvious benefit of the six-speed automatic, of course, is that it leads to quieter operation. There's no rubber-band-like revving like you'd get with a CVT because the transmission can actually shift up a gear.