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U.S.-South Korea trade deal grew exports but brought disappointments-USTR Tai -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A child holds the U.S. flag and the South Korean flag before the arrival of South Korean President Lee Myungbak at the White House, Washington on October 13th 2011. REUTERS/Kevin Lamarque

WASHINGTON (Reuters), U.S. Trade Rep Katherine Tai claimed Tuesday that the U.S. Korea Free Trade Agreement, or KORUS (a decade-old agreement) helped to increase autos and agricultural trade between South Korea and the United States. However, it was not perfected.

In remarks prepared for an event by the U.S. Chamber of Commerce, Tai stated that more was needed to improve opportunities for agricultural and automotive trade with South Korea.

Tai explained that over the last 10 years, Korea’s exports of services and goods has increased nearly 17 percent to $70 Billion. We have had to deal with many disappointments and difficulties in implementing the agreement.

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