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Pending U.S. and EU free trade agreements with South Korea : Possible implications for automobile and other manufacturing industries

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  • Pending U.S. and EU free trade agreements with South Korea
  • Platzer, Michaela D.
  • Congressional Research Service


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Title Pending U.S. and EU free trade agreements with South Korea
Similar Titles
Sub Title

Possible implications for automobile and other manufacturing industries

Material Type Articles
Author(English)

Platzer, Michaela D.

Publisher

[Washington, D.C.]:Congressional Research Service

Date 2010-09
Journal Title; Vol./Issue CRS Report for Congress:
Pages 37
Subject Country United States(Americas)
South Korea(Asia and Pacific)
Europe(Europe)
Language English
File Type Link
Subject Economy < Trade
Industry and Technology < Manufacturing
Holding Cornell University

Abstract

South Korea has negotiated free trade agreements (FTAs) with the United States and the European Union (EU), but neither agreement has yet been approved. The U.S. Congress must approve the United States and South Korea free trade agreement (KORUS FTA) and the European Parliament must vote on the European Union and South Korea free trade agreement (KOREU FTA) before the FTAs can take effect. If the FTAs are ratified, it is possible there could be a “first mover” advantage for either the United States or the European Union, depending on which FTA is approved first. Some argue that both agreements have shortcomings and should not be approved. This report provides U.S. lawmakers with a comparison of the manufacturing components in the KORUS and KOREU FTAs. Congressional interest in an FTA between the European Union and South Korea mostly centers on those U.S. industries competing with European industrial sectors, especially motor vehicles. (The rest omitted)