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Korea-U.S. FTA : Prospects and analysis

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  • Korea-U.S. FTA
  • Korea Institute for International Economic Policy


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Title Korea-U.S. FTA
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Sub Title

Prospects and analysis

Material Type Reports
Publisher

Seoul:Korea Institute for International Economic Policy

Date 1999-03
Series Title; No KIEP Working Paper / 99-03
ISBN 89-322-4044-2; 89-322-4026-4(세트)
Pages 70
Subject Country United States(Americas)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding Korea Institute for International Economic Policy

Abstract

In the 1990s, regional trade agreements (RTAs) have become widespread and increasingly became a threat to non-member countries. Despite the GATT/WTO Article 24 and its provision for the overall trade barriers in any new regional or bilateral trade agreement to be no higher than the preexisting ones, the trade diversion effects of regionalism are having an increasingly negative effect on the trade of non-member countries. A realistic Korean policy response to the spread of RTAs would be the establishment of free trade agreements (FTAs) with major trading partners. This paper analyzes the potential effects of a Korea-U.S. FTA, as this would become the most significant trade agreement, which Korea might enter into. (The rest omitted)