Ways and Means Chairman Dave Camp (R-MI) and Trade Subcommittee Chairman Kevin Brady (R-TX) issued the following statements today upon the announcement by U.S. Trade Representative Ron Kirk that the United States and South Korea have taken measures necessary to comply with provisions of the U.S.-South Korea FTA (KORUS) and that the agreement will enter into force on March 15, 2012:
Chairman Camp stated: “This is good news for U.S. job-creators. Taking this final step will remove taxes on the manufacturing goods and agriculture products U.S. companies export to South Korea, eliminate obstacles to U.S. services exports, and address key non-tariff barriers that have prevented our workers and companies from competing on a level playing field in this rapidly growing market. I congratulate Ambassador Kirk and his team for their diligent work to ensure that the agreement entered into force as quickly as possible.
“In these difficult economic times, we must do everything possible to support economic recovery and job creation. Today’s announcement is an important step forward, and I look forward to continuing to consult closely with the Administration to ensure that the trade agreements with Colombia and Panama enter into force as quickly as possible. All three trade agreements passed the House and Senate with strong bipartisan support when they were considered last October. The President’s own metrics indicate that these three agreements have the ability to support 250,000 good-paying American jobs without any new government spending.”
Chairman Brady added: “I welcome Ambassador Kirk’s announcement that the U.S.-South Korea Free Trade Agreement will enter into force on March 15. The prompt entry into force of KORUS confirms to the world that America is back on the global trading field and ready to lead. Entry into force will allow America’s manufacturers, farmers, workers, and technology companies to compete for new customers in this important economy and create well-paying jobs here in America. I look forward to continuing to work with Ambassador Kirk on entry into force of the trade agreements with our longstanding allies Colombia and Panama. I also urge the President to build on this strong momentum by moving promptly to complete the Trans-Pacific Partnership and work with Congress on a forward thinking, aggressive trade agenda for the future.”
To read more about the benefits of the U.S.-South Korea Free Trade Agreement click here.
To read more about the benefits of the three trade agreements between the United States, South Korea, Panama, and Colombia click here.