European Small Auto Manufacturers Get Hurt in South Korea Deal

If the proposed free trade deal goes through with South Korea, the Euro Auto Makers will have less room to cut costs.  The majors in this segment include Fiat, Renault, and PSA Peugeot Citroen.  These guys are concern with something called “duty drawback”.  That is a refund South Korea gives to help reduce tariff costs on imported parts.