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Web Site Citations
MLA Style:
Schott, Jeffrey. J. Policy Brief 10-28: KORUS FTA 2.0: Assessing the Changes. Peterson Institute for International Economics, 16 Dec. 2010. Web. 16 Dec. 2010. <http://www.iie.com/publications/interstitial.cfm?ResearchID=1725>.
APA Style:
Schott, J. J. (2010). Policy Brief 10-28: KORUS FTA 2.0: Assessing the Changes. Retrieved Dec. 16, 2010, from Peterson Institute for International Economics, Washington, DC. Web site: http://www.iie.com/publications/interstitial.cfm?ResearchID=1725.
CBE/CSE Style:
Schott J J. 2010 [cited 2010 Dec 16].Policy Brief 10-28: KORUS FTA 2.0: Assessing the Changes. [Internet]. Washington, DC: Peterson Institute for International Economics. Available from: http://www.iie.com/publications/interstitial.cfm?ResearchID=1725.
Chicago Style:
Bibliography (Notes and Bibliography System):
Schott, Jeffrey J. "Policy Brief 10-28: KORUS FTA 2.0: Assessing the Changes." Peterson Institute for International Economics. http://www.iie.com/publications/interstitial.cfm?ResearchID=1725 (accessed December 16, 2010).
References List (Author-Date System):
Schott, Jeffrey J. Policy Brief 10-28: KORUS FTA 2.0: Assessing the Changes. Peterson Institute for International Economics. http://www.iie.com/publications/interstitial.cfm?ResearchID=1725 (accessed December 16, 2010).
Policy Brief 10-28
KORUS FTA 2.0: Assessing the Changes
by Jeffrey J. Schott, Peterson Institute for International Economics
December 2010
On December 3, 2010, the United States and South Korea agreed to incremental changes to the Korea-US Free Trade Agreement (KORUS FTA) that greatly increase prospects for Congressional ratification next year. Immediate tariff cuts on autos and light trucks have been deferred a few years. Korea agreed to auto regulatory reforms that should help mitigate existing problems and preclude the introduction of new nontariff barriers. Minor adjustments also were made to the phase-out of Korean pork tariffs, the duration of US L-1 visas, and the grace period before Korea has to implement a pharmaceutical "patent linkage" system. The new deal should provide gains of more than $20 billion in bilateral trade. The pact also should have positive knock-on effects on the awakening global trade talks and on negotiations for a Trans-Pacific Partnership.
View full document [pdf]
RELATED INTERVIEWS
The US-Korea Trade Pact: Assessing the Impact December 7, 2010
RELATED LINKS
Op-ed: Congress and the KORUS FTA November 8, 2010
Book: Witness to Transformation: Refugee Insights into North Korea January 2011
Peterson Perspective: North Korea's Immunity to Outside Pressure: Part I December 12, 2012
Policy Brief 10-1: The Winter of Their Discontent: Pyongyang Attacks the Market January 2010
Working Paper 10-2: Economic Crime and Punishment in North Korea March 2010
Paper: FTAs and the Future of US-Korean Trade Relations November 2009
Paper: Implementing the KORUS FTA: Key Challenges and Policy Proposals February 2008
Policy Brief 08-6: North Korea on the Precipice of Famine May 2008
Policy Brief 07-7: The Korea-US Free Trade Agreement: A Summary Assessment August 2007
Policy Brief 06-4: Negotiating the Korea–United States Free Trade Agreement June 2006
Working Paper 07-7: North Korea’s External Economic Relations August 2007
Book: Avoiding the Apocalypse: The Future of the Two Koreas June 2000
Book: Free Trade Between Korea and the United States? April 2001
Working Paper 08-4: Migration Experiences of North Korean Refugees: Survey Evidence from China March 2008