Overall U.S. Trade Deficit with Korea Drops below Pre-KORUS Levels
The U.S.-Korea bilateral trade deficit has declined by 71 percent from its height in 2015 to below its pre-KORUS FTA level.
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The U.S.-Korea bilateral trade deficit has declined by 71 percent from its height in 2015 to below its pre-KORUS FTA level.
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Korea should be provided an exemption from any proposed tariffs on imported motor vehicles and parts from the recent Section 232 investigation.
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The U.S. exported record levels of agricultural products to Korea, going from nearly $7 billion in 2011 to a record $8.3 billion in 2018.
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As we reflect on the success of the KORUS FTA, it is important to also remember that other factors may influence future economic behavior.
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WTO's decision to uphold Korea's right to retaliate against U.S. tariffs could severely impact Washington's approach to the international institution.
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Congress is showing greater assertiveness in shaping U.S. foreign policy, but concerns arise that this could also complicate talks with North Korea.
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