With the March 31 deadline fast approaching,
The two countries have been working on trade negotiations for nearly a year. Agricultural issues have been a major sticking point, as
Lawmakers in both countries would need to ratify any trade deal struck this week, a process which could take months. Currently, under President Bush's Trade Promotion Authority, the Administration can send a trade deal to Congress for an up or down vote with no amendments. However, that authority is set to expire this summer, and without it, any trade deal is not likely to escape Congress.
The deal faces opposition from many South Koreans who fear imports of cheaper
The two countries already do more than $75 billion in trade.