The efforts of House Ways and Means Committee chairman Dave Camp (R–MI) to implement long-overdue trade agreements with Colombia, Panama, and South Korea may soon pay off, providing a much-needed boost to the stagnant U.S. economy. Camp has rebuffed demands from the Obama Administration and Senate Finance Committee chairman Max …
The Obama Administration recently made its strongest statement yet in support of free trade agreements. Secretary of State Hillary Clinton commented on the challenges of implementing trade agreements: It does mean you have to take on entrenched interests and respond to concerns about new competition, while making the case over …
In April, I visited South Korea and met with government and military leaders to promote vital U.S. interests in East Asia. Among those priorities is the long overdue passage of the South Korea-United States Free Trade Agreement (KORUS), which has been stalled in typical Washington fashion since 2007. If ratified, …
By further cementing the positive relationship between South Korea and the United States, the pending South Korea–United States (KORUS) free trade agreement will further weaken the oppressive North Korean regime’s strategic position and help disabuse the regime’s leaders of any hopes they might have had of flagging U.S. support for …
Some critics of the proposed South Korea–U.S. Free Trade Agreement (KORUS) have expressed concerns about imports from North Korea, specifically goods originating from the Kaesong Industrial Region. This should be a non-issue. The chart below compares how imports from North Korea are treated today and how they will be treated …
The U.S. Commerce Department today reported that the country’s 2010 trade deficit was $497.8 billion, an increase of $122.9 billion from 2009. Exports increased from $1.57 trillion to $1.83 trillion, and imports increased from $1.95 trillion to $2.33 trillion. Increased imports are often a sign that the U.S. economy is …
Bravo Zulu is navy parlance for “job well done.” South Korea’s naval commandos certainly earned that accolade by successfully rescuing all 21 hostages held aboard a South Korean freighter. On January 15, pirates armed with automatic rifles, heavy machine guns, and rocket-propelled grenades seized the Samho Jewelry ship 800 miles …
