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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

Hyundai to fight $248M judgment over fatal Montana crash

A Montana jury has levied a $248 million ruling against Hyundai in the case of a crash that killed two occupants in July 2011. The automaker plans to appeal the ruling.
Cousins Trevor and Tanner Olson were driving a 2005 Hyundai Tiburon when they hit another vehicle head-on. According to lawyers representing their family, the steering knuckle on the car cracked and this allegedly caused it to lose control. Hyundai claimed that fireworks had been let off inside the vehicle, which caused the driver to swerve. The company alleges that evidence that could have proved its innocence was barred from the case.
The jury found in favor of the family and awarded them about $8 million in damages after a two-week trial. It claimed that Hyundai had shown "actual malice," according to Reuters. The jurors also slammed Hyundai with a further $240 million in punitive damages.

2017 Hyundai Santa Fe and Sport reveal facelifts in Chicago

Hyundai needs crossovers. With the national average cost of gas at just $1.71 as of this writing, (short-sighted) consumers are charging back to dealers demanding new high riders. That's bad news for car-heavy manufacturers like Hyundai, and good news for brands that have embraced CUVs, like Subaru. Consider this: Hyundai sold 181,725 crossovers from its roughly 800 dealers in 2015. In that same period, the Subaru Forester alone racked up 175,192 sales, and that's with a dealership network 25 percent smaller than Hyundai's. At the 2016 Chicago Auto Show, Hyundai is showing off updated versions of its two-tier Santa Fe range. There's a new, more pronounced and rectangular grille; sharper, less organic headlights, and LED running lamps in front. But there are also a bunch of new gizmos and gadgets that Hyundai expects to elevate the Santa Fe's safety rating. A backup camera is now standard and you can now snag adaptive cruise control with a stop-start mode. There's also a raft of new safety features, including lane departure warning, automatic high beam assist, and auto emergency braking with pedestrian detection. It's partially because of that last item that Hyundai thinks the new Santa Fe will score an IIHS Top Safety Pick+ rating. The company hasn't explained what changes will allow it to improve on 2016's Moderate rating in the small-overlap test, though. But if Hyundai is correct, it'd be a serious coup – the Santa Fe hasn't been honored by the IIHS since its redesign for model year 2013. It'd also put the Santa Fe in a rarefied class of ultra-safe mid-size CUVs. Only the Honda Pilot and Nissan Murano have scored TSP+ ratings. Prices increase by $400 on naturally aspirated models and $450 for the top-of-the-line turbocharged trims. The new Santa Fe is arriving at dealers now. View 12 Photos 2017 HYUNDAI SANTA FE LINE-UP FEATURES ENHANCED DESIGN, INFOTAINMENT, LED LIGHTING, CONVENIENCE AND SAFETY Comprehensive Product Improvements Combine to make New Models even more Appealing in every Facet of the Ownership Experience CHICAGO, Feb. 11, 2016 – The award-winning Hyundai Santa Fe lineup continues to dramatically improve for the 2017 model year. The improvements span everything from fresh exterior design and LED lighting signatures to additional infotainment, convenience and safety technologies and new Drive Mode selection with Sport, Eco and Normal settings.