(American Shipper)
The country’s top agriculture chief said congressional approval of the
U.S.-South Korea free trade agreement will expand farm exports to this Asian
market by $1.8 billion annually.
“Economic output is estimated to grow more under this agreement than
from our last nine trade agreements combined,” said U.S. Agriculture Secretary
Tom Vilsack at a press conference Tuesday. “This agreement immediately
eliminates duties on the majority of U.S. farm
products exported to Korea and eliminates duties over time on many others, including U.S. beef.”
He warned: “Congress must move swiftly to ratify the U.S.-Korea Trade
Agreement, because if we do not act quickly and decisively, America’s
competitors will secure their own trade deals with Korea, and
our competitors’ products will achieve an advantage at the expense of American
productivity.” Read more here.
