Korea FTA Gains Priority Status

January 19, 2011

Obama administration officials have recently indicated that President Obama plans to make passing the Korea FTA a top legislative priority. According to U.S. Trade Representative Ron Kirk, the administration is seeking to pass the Korea FTA by July 1, when a similar trade agreement between Korea and the European Union goes into effect. Kirk also addressed the issue of potentially moving the Colombia and Panama FTAs with the Korea FTA. While the administration is aiming for passage of the U.S.-Korea FTA in the first half of this year, Kirk said that votes on the Columbia and Panama FTAs will happen later.

U.S. and Korean officials are continuing to iron out the language in the December 3, 2010 accompanying agreement to the U.S. Korea FTA. Assistant U.S. Trade Representative Wendy Cutler and Korean Deputy Trade Minister Choi Seok-young are scheduled to attend the U.S.-Korea Business Council meeting in Los Angeles from January 21-23, and to meet to work on the legal text of the accompanying agreement on January 20-21.

The U.S. Korea FTA has a substantial degree of bipartisan support as well as support from the United Auto Workers and the United Food and Commercial Workers, although other U.S. labor unions are opposing it.

For more information on the U.S. Korea FTA, continue to visit https://www.barnesrichardson.com or contact a Barnes/Richardson attorney.