press release_korus fta implementation
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11/22/2016 U.S. Chamber Applauds Announcement of U.S.Korea Trade Agreement Implementation | U.S. Chamber of Commerce
https://www.uschamber.com/pressrelease/uschamberapplaudsannouncementuskoreatradeagreementimplementation 1/2
https://www.uschamber.com/pressrelease/uschamberapplaudsannouncementuskoreatradeagreementimplementation
U.S. Chamber ApplaudsAnnouncement of U.S.-Korea TradeAgreement ImplementationMonday, February 20, 2012 7:00pm
WASHINGTON D.C.—The U.S. Chamber of Commerce applauded the administration and the U.S.Trade Representative today for their announcement that the U.S.Korea Free Trade Agreement(KORUS) will enter into force on March 15, 2012. The landmark trade agreement that would supportmore than 70,000 exportrelated jobs was ratified last October through a bipartisan vote in Congress.
“The U.S. business community commends our negotiators for staying the course on implementing agroundbreaking trade deal with South Korea that will create American jobs and boost Americancompetitiveness,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “We will now beable to play on a level playing field in South Korea’s dynamic market and start creating tens ofthousands of new jobs here at home.”
Upon entry into force, tariffs will be eliminated on nearly 80% of U.S. exports of industrial products andnearly twothirds of U.S. exports of agricultural products to South Korea. It will also break down nontariff barriers and strengthen transparency and intellectual property protections in South Korea so thatAmerican companies can compete fairly in the South Korean market.
“It is now up to the business community, including the hundreds of thousands of small and mediumsized enterprises that make up the backbone of the U.S. economy, to take full advantage of thisagreement to grow American exports,” Donohue said. “This agreement is the foundation for movingbipartisan, jobcreating policies forward, and we urge the administration to build on the positivemomentum of the South Korea trade agreement to continue opening up markets abroad.”
The Chamber is continuing to advocate for implementation of the trade agreements with Colombia andPanama on a commercially sound basis as soon as possible.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests ofmore than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambersand industry associations.
11/22/2016 U.S. Chamber Applauds Announcement of U.S.Korea Trade Agreement Implementation | U.S. Chamber of Commerce
https://www.uschamber.com/pressrelease/uschamberapplaudsannouncementuskoreatradeagreementimplementation 2/2
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