Updating and fta mobile home refinance bill consolidating

Sales of US-made cars in the Korean market have increased by almost 90 percent since 2012.

On autos, the KORUS FTA has encouraged rapid growth in US car exports to Korea, albeit from a very low base, since Korean car tariffs were removed in 2016.In fact, US shipments could be constrained in a few years if changes are not made to the KORUS FTA preferential handling procedures for autos—basically an exemption for each US automaker that allows 25,000 US auto imports to enter the Korean market without meeting Korean safety standards.Trump officials regard Korean regulations as NTBs and the special quota is a way to exempt US shipments from that requirement.This suggests a two-stage approach to advancing bilateral trade relations, using the platform of KORUS FTA meetings.First, use the special session meetings (1) to seek commitments to increase Korean purchases of US goods, especially liquefied natural gas (LNG) and autos and (2) to study where the KORUS FTA needs to be updated.

Leave a Reply