U. S. -Korea Free Trade Agreement

Book excerpt: On Feb. 10, 2011, the U.S. and the Rep. of Korea (Korea) exchanged the legal texts reflecting the agreement they concluded on Dec. 3, 2010, to modify certain provisions of the 2007 U.S.-Korea Free Trade Agreement (FTA) regarding the passenger vehicle sector. These texts (AA) are to provide additional market access for U.S. exports to Korea, in particular by addressing non-tariff measures (NTMs) affecting U.S. exports. This report focuses on the impact of the AA and provides additional analysis of the effects of the reduction or removal of NTMs. U.S. exports of passenger vehicles to Korea would likely rise significantly in the long term under the provisions of the 2007 FTA as modified by the AA. Illus. A print on demand report.