Trade officials from the U.S. and South Korea met again recently to try and make progress on a free trade agreement (FTA). If a deal is eventually reached, the pact would be the biggest for the U.S. since the North American Free Trade Agreement signed in 1993.

Among the thorniest issues facing negotiators are antidumping laws and patent protections for American pharmaceutical companies, as well as autos and agriculture.

"We've got to see significant progress in the next round and we've got to really narrow down the differences," noted the vice president for Asian affairs at the U.S. Chamber of Commerce in Washington.

Proponents are hoping to wrap up a deal soon, as President Bush’s "fast track" authority is expiring at the end of June. Under “fast track,” the president can submit the agreement to Congress for a straight up-or-down vote without amendments.