September 20, 2007
News Release 07-099
Inv. No. TA-2104-24
Contact: Peg O'Laughlin, 202-205-1819

ITC RELEASES REPORT CONCERNING THE IMPACT OF THE U.S.-KOREA FREE TRADE AGREEMENT

The U.S. International Trade Commission (ITC) today released its report assessing the bilateral free trade agreement (FTA) that the President has entered into with Korea.

The ITC's report provides an assessment of the likely impact of the FTA on the U.S. economy and on specific industry sectors and consumers. The publication, U.S.-Korea Free Trade Agreement: Potential Economy-wide and Selected Sectoral Effects, offers a comprehensive summary of all of the specific provisions in the agreement, as well as the changes to U.S. and Korean tariffs provided for in the new agreement.

The Trade Act of 2002 requires the ITC to prepare a report that assesses the likely impact of proposed FTAs on the U.S. economy as a whole and on specific industry sectors and the interests of U.S. consumers. In preparing its assessment, the ITC also is required to review available economic assessments regarding the agreement in question, including literature regarding any substantially equivalent proposed agreement.

U.S.-Korea Free Trade Agreement: Potential Economy-wide and Selected Sectoral Effects (Investigation No. TA-2104-24, USITC publication 3949, September 2007) will be posted in the Publications section of the ITC Internet site at www.usitc.gov. CD-ROM and printed copies may be requested by calling 202-205-2000 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be made by fax to 202-205-2104.

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