Korea Deserves Clarity from the U.S. Regarding a Tariff Exemption on Autos
There are no public reports that an assurance was given to South Korea that the U.S. would exempt Korea from higher tariffs in imported autos.
U.S.-Korea Trade Imbalance Continues to Dramatically Decline
The U.S. trade deficit through October with the world expanded by 11 percent, but Korea bucked this trend by declining 22 percent to just $15.1 billion.
U.S. Merchandise Trade Deficit with South Korea Continues to Decline
While America’s overall merchandise trade deficit went up by 6.7 percent for the first six months of this year, it declined 23 percent with South Korea.
The KORUS FTA and the Creative Industries
Enhanced bilateral trade and investment under the KORUS FTA has positively impacted the U.S. copyright industries in several ways.
Withdrawing U.S. Troops from Korea is a White Flag, not a Bargaining Chip
It may have just be bravado, but President Trump’s suggestion that the withdrawal of U.S. troops on the Korean Peninsula may be on the table is problematic.
Agriculture is the Clear-Cut Winner with Sound Trade Policy
In fact, NAFTA, and trade deals like KORUS FTA – the United States-Korea Free Trade Agreement – are keeping our farms and rural communities not just afloat, but at the forefront and rapidly growing.
U.S. Bilateral Trade Deficit with South Korea Drops 41 percent
The U.S. trade deficit with Korea in goods and services declined by $7.3 billion in 2017 on a record $23.2 billion in U.S. services exports to Korea.
2017 U.S. Agricultural Exports to South Korea Nearly Tied Record
In 2017, the U.S. ran a massive agricultural trade surplus with Korea of $6.3 billion. It generated nearly $9.6 billion in additional economic activity.
U.S. Hits New Record in Merchandise Exports to South Korea
The U.S. set a new record of $48.3 billion in exports of manufactured and agricultural goods to the Republic of Korea in 2017.
10 Issues to Watch for on the Korean Peninsula in 2018
As we look ahead to what might occur in 2018 we should also consider how key events from 2017 will continue to shape the year ahead.