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    KORUS Trade Pact Keeps Pressure on North Korea

    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 … More

    In South Korea Free Trade Debate, Kaesong Should Be a Non-Issue

    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 … More

    New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit

    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 … More

    Bravo Zulu to South Korean Commandos

    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 … More

    The United States Needs Fair Referees for International Disputes

    Last night’s BCS Championship game pitted the Auburn Tigers from the Southeastern Conference (SEC) against the Oregon Ducks from the Pac-10. To guard against biases that could have influenced the game’s outcome, officials were provided by the Big 10. If football-crazed fans from Auburn and Oregon can understand why referees … More

    South Korea–U.S. Trade Deal: Better Late Than Never

    When the proposed South Korea–U.S. Free Trade Agreement (KORUS) was initially signed on June 30, 2007, Heritage Foundation analysts recognized significant benefits that would come from implementation of this landmark trade deal. Those benefits included more exports, more export-related jobs, and a stronger economy. As the Obama Administration has pointed … More

    South Korea Trade Pact: More Important Than Ever

    The economic case for the South Korea–U.S. Free Trade Agreement (KORUS) has been variously described as a “slam dunk,” a “pareto-optimal solution,” and “an easy ‘yes.’” However, aside from the economic arguments for KORUS, recent events in the Korean peninsula make approval of the agreement more important than ever. On … More

    Morning Bell: Don’t Give In To North Korea Demands

    At 2:43 PM local time today, North Korea fired artillery rockets at the South Korean island of Yeonpyeong setting dozens of residential homes ablaze, wounding three civilians and fifteen soldiers, and killing two South Korean Marines. South Korea responded with artillery fire of their own but while they placed fighter … More

    The Obama Administration’s Self-Destructive Trade Policy

    Following the shocking inability of U.S. and South Korean trade negotiators to reach agreement on changes to a proposed Korea–U.S. Free Trade Agreement (KORUS), the biggest question was whether the failure was due to a conscious decision by President Obama or to stunning incompetence. However, if negotiators had managed to … More

    Morning Bell: A Failing Agenda Fails

    President Barack Obama returned from Asia yesterday, and the headlines greeting him home are not kind. “Obama’s economic view is rejected on world stage,” reads The New York Times; “Obama, weakened after midterms, reveals limited leverage in failed S. Korea deal,” says The Washington Post; and ABC News declares, “President … More