How has the KORUS FTA Helped American Farmers?
After a year of discussions, the Trump and Moon Administrations recently announced their tentative agreement to update the Korea-U.S. Free Trade Agreement (KORUS FTA), focusing almost entirely on the automotive sector and a few other spots, including pharmaseuticals. But one are that was left completely untouched was agriculture, perhaps due to the fact that the United States saw significant improvements in ag trade to Korea following the implementation of KORUS. Now, with the Trump administration saying they may continue to discuss changes to KORUS, American farmers are continuing to watch the discussions closely.
In this episode of Korean Kontext, Jenna Gibson sits down with David Oppedahl, a Senior Business Economist at the Federal Reserve Bank of Chicago, and Veronica Nigh, an Economist at the American Farm Bureau Federation, to discuss what KORUS has meant for the American agriculture industry, and what to keep an eye on as the agreement continues to go into effect.