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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

Kia GT4 Stinger concept is a 'totally selfish design'

After a trio of teasers, Kia has finally unveiled its GT4 Stinger Concept at the 2014 Detroit Auto Show. Let's get one thing out of the way right off the bat: Kia says in its press release that "there are currently no plans to bring the concept to production." Of course, that's a qualified statement: the automaker then follows that up by noting it "has a history of delivering production vehicles that bear a strong resemblance to the concept that preceded them." So cross your fingers, kids - this looks like it could be a preview of the company's first real sports car.
Through those three teasers, we've learned and seen more of the GT4 Stinger, and we largely like what we see. It's a 2+2, rear-drive coupe with a detuned version of the 2.0-liter, turbocharged four-cylinder used in the Kia Optima GTS racer from the Pirelli World Challenge. The concept's engine is said to be good for a healthy 315 horsepower, though the race-tuned Optima GTS can deliver upwards of 400. A six-speed manual handles the power, while staggered Pirelli PZero tires provide the grip. Those Pirellis wrap around a set of 20-inch wheels, complete with showcar-friendly center locks, while 15-inch Brembo brakes and four-piston calipers mean the Stinger should be able to stop with as much authority as it will go. What the teasers haven't been able to put into perspective, though, is GT4 Stinger's size.
The footprint issue is an important one, as it hints that a production GT4 would be more of an FR-S/Subaru BRZ fighter than a rival to the Genesis Coupe.

Kia expects US to be Soul EV's top market

While its sister brand Hyundai invests in hydrogen fuel cell technology, Kia is entering the battery-powered electric vehicle market with the new Soul EV. The Korean automaker plans to sell some 5,000 units of its first electric vehicle around the world. While it's not saying exactly what proportion it hopes to sell in (or how many it's allocating to) any individual market, the latest reports indicate that it expects the United States to be its biggest market.
Part of that may come down to the growing popularity of electric vehicles in America, but also to the substantial incentives offered by federal and local government agencies towards buying an EV. Though the Soul EV retails for a reported 42.5 million won in South Korea - equivalent to less than $41,500 at today's rates, of which the battery alone accounts for about 40 percent - incentives will mean that the actual cost to a buyer in the US will be about half that, although Kia hasn't announced official pricing yet.
The latest electric vehicle on the market is based on the existing Kia Soul hatchback, a vehicle chosen due to its packaging vis-à-vis more conventionally shaped vehicles. The 27 kWh lithium ion battery pack adds about 330 pounds to the vehicle's curb weight, resulting in a 0-62 time of 11.2 seconds and a 92-mile range. The Kia Soul EV will initially be sold only in California, Oregon, New York, New Jersey and Maryland.