The KORUS-FTA will be the United States’ most commercially significant FTA since NAFTA took effect in 1994. Auto trade was a key, contentious component of the negotiations.

KORUS FTA will provide American consumers more choices at lower prices.

America is the No.1 consumer driven economy in the world. A free trade agreement with South Korea will provide American consumers with more quality choices at affordable prices.

KORUS FTA will generate export opportunities for many U.S. sectors, including the automotive sector.

The ITC predicts that within three years of an agreement between the U.S. and South Korea, two-way trade will increase by as much as $20-$30 billion. Last year, two-way trade reached $74 billion.

The agreement not only results in a rapid reduction in both countries’ tariff barriers but it also contains unprecedented steps to address non-tariff barriers.

South Korea has agreed to a bilateral working group on autos with a built-in transparency requirement to prevent future trade problems and promote coordination between the U.S. and South Korea on regulatory and technical issues.

KORUS FTA will promote economic growth and provide the U.S. a preferential position in the world's 7th largest economy.

This free trade agreement is an important milestone in our relationship with South Korea and further underscores to the rest of the world America’s commitment to doing business in a global marketplace.

Such an agreement will give our nation a preferential position in the world’s seventh largest economy, and a region of the world where our exports grew over 17 percent last year. An FTA will stimulate U.S. exports to South Korea, benefiting American businesses and workers.

KORUS FTA will help create better paying jobs for U.S. workers.

When foreign companies are allowed access to test their products in the U.S. market, history shows that they will be more inclined to invest in operations here, whether it’s Research and Development (R&D), manufacturing, or supplier industries. In the past, Honda, Toyota, BMW, Hyundai, and Kia have proven this behavior to be beneficial for both these companies’ finances and our country’s hard workers.

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