scholarly journals Do U.S. agriculture suppliers benefit from South Korea- U.S. Free Trade Agreement – the case of orange juice

2018 ◽  
Vol 21 (7) ◽  
pp. 883-894
Author(s):  
Yan Heng ◽  
Lisa A. House
Keyword(s):  
South Korea ◽  
Free Trade ◽  
Orange Juice ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Import Demand ◽  
Trade Data ◽  
The World ◽  
Korus Fta

This paper investigates the effect of the South Korea-U.S. Free Trade Agreement (KORUS-FTA) on U.S. competition with other suppliers for the import/export of orange juice. We use monthly trade data for 2007- 2015 to estimate the import demand from the United States, Brazil, Israel, and the rest of the world. Our results suggest that U.S. suppliers have surpassed Brazil and dominate the market. Moreover, we show that thanks to the KORUS-FTA, U.S. suppliers have gained significant welfare and trade value, which is particularly important for industries suffering from a shrinking domestic market.

South Korea and the United States Free Trade Agreement (KORUS FTA) in 2006-2019 and Its Impact on the South Korea-US Alliance

2021 ◽  
pp. 88-93
Author(s):  
Marta V. Bocharnikova ◽  
Keyword(s):  
United States ◽  
South Korea ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
The South ◽  
Political Events ◽  
General Scientific ◽  
Korus Fta

The article presents a study of the South Korea-United States Free Trade Agreement (KORUS FTA) and is divided into two parts. In the first part, the author briefly addresses the background of the agreement and explores in detail the current state of the KORUS FTA after its modification in 2018. The author examines key modifications made in the agreement and their influence on the Republic of Korea (ROK), the United States, and the ROK-US alliance. The first part also analyzes why President Trump, instead of delaying the KORUS issue, pushed its revision in 2017, when the situation on the Korean Peninsula was quite explosive, and the motives of the Trump administration in resuming Section 232 investigation, particularly into imports of semiconductors. In the second part, the author addresses future prospects of the agreement in general and briefly analyzes its impact on the ROK-US alliance. The author does not attempt to evaluate the quality of the alliance by measuring the state of the KORUS FTA. Nevertheless, while the trade agreement does not reflect all the strengths or weaknesses of the alliance, it is one of the criteria of the alliance development. Statistical data is employed throughout the article to illustrate the trade imbalance between South Korea and the US, import and export volume, and opinion survey results. In conclusion, the author sums up the results obtained and highlights the importance of the KORUS FTA for the ROK-US alliance. The relevance of the article lies in the fact that the work is based primarily on foreign sources and literature, which allows expanding the knowledge base of domestic Korean studies. This article is also a part of a more comprehensive study in this area and can serve as a supplementary modern literature for Russian researchers who major in Korean studies and deal with issues related to the South Korea-US relations. The methodological basis of the study consists of the principle of historicism and approaches such as structural-functional and systematic. The article employs general scientific, general historical and political science research methods. Among the general scientific methods, the author used methods of analysis and synthesis; time comparison method and complex method. Among the general historical methods, the historical-comparative method and the historical-genetic method are applied for demonstrating the causal relationship between political events, and the historical-systematic method for singling out a certain period in the historical process in which the problem is investigated. Finally, among the political science methods, content analysis and event analysis are employed for a better assessment of political events.

The Investment Provisions of the Canada—United States Free Trade Agreement: A Canadian Perspective

1990 ◽  
Vol 84 (2) ◽  
pp. 394-443 ◽  
Author(s):  
Jean Raby
Keyword(s):  
United States ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Bilateral Trade ◽  
Good Deal ◽  
Trade Agreement ◽  
Ronald Reagan ◽  
The United States ◽  
The World ◽  
Trading Partners

This is a good deal, a good deal for Canada and a deal that is good for all Canadians. It is also a fair deal, which means that it brings benefits and progress to our partner, the United States of America. When both countries prosper, our democracies are strengthened and leadership has been provided to our trading partners around the world. I think this initiative represents enlightened leadership to the trading partners about what can be accomplished when we determine that we are going to strike down protectionism, move toward liberalized trade, and generate new prosperity for all our people.On January 2, 1988, President Ronald Reagan of the United States and Prime Minister Brian Mulroney of Canada signed the landmark comprehensive Free Trade Agreement (FTA) between the two countries that already enjoyed the largest bilateral trade relationship in the world. The FTA was subsequently ratified by the legislatures of both countries, if only after a bitterly fought election on the subject in Canada. On January 1, 1989, the FTA formally came into effect.

scholarly journals Trade Complementarity and the Balance of Payments Constraint Hypothesis: A New Free Trade Agreement between Mexico and South Korea

Mathematics ◽  
2020 ◽  
Vol 8 (10) ◽  
pp. 1708
Author(s):  
Luis Quintana-Romero ◽  
Nam Kwon Mun ◽  
Roldán Andrés-Rosales ◽  
José Álvarez-García
Keyword(s):  
United States ◽  
South Korea ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
New Era ◽  
External Sector ◽  
Korean Market

Market diversification is one of the keys to success in the new era of world trade. Highly competitive countries have accomplished positive and sustained growth rates by not depending on a single market for their exports and imports. In Mexico, on the contrary, 80% of exports and 45% of imports concentrate in the United States. The South Korean market represents an opportunity for the Mexican economy, as the relationship between the two countries has strengthened in recent decades. This opportunity would promote greater economic growth for both countries if they reached a Free Trade Agreement, as we show in this work. The aim of this research is to assess the complementarity between these countries and estimate their external long-term equilibrium using the Thirlwall trade restriction model. Results confirm the existence of trade complementarity between the two economies and show that these are able to achieve long-term equilibrium in the external sector. Additionally, the Mexican economy would not face balance of payment constraints for growth when trading with South Korea, as it currently does with the United States.

scholarly journals The Development of the Free Trade Area of the Americas: A Guide For Legal Research

2005 ◽  
Vol 33 (1) ◽  
pp. 11-64 ◽  
Author(s):  
Michelle S. Viegas
Keyword(s):  
United States ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Common Market ◽  
Trade Area ◽  
The World

At the 1994 Summit of the Americas, leaders of democratic nations in the Western Hemisphere committed to establishing a Free Trade Area of the Americas (FTAA) by January 2005. The Declaration of Principles resulting from that Summit called for building on “existing sub-regional and bilateral arrangements in order to broaden and deepen hemispheric economic integration and to bring the agreements together.” Although ambitious, this endeavor was undertaken during a decade marked by an unprecedented proliferation of trade agreements. In 1991, Argentina, Brazil, Paraguay and Uruguay agreed to initiate the formation of a common market now known as the MERCOSUR. Then in 1994, Canada, Mexico and the United States signed the North American Free Trade Agreement which replaced the United States-Canada Free Trade Agreement. Later that year, nations around the world formalized the existing General Agreement on Tariffs and Trade, creating the World Trade Organization. In 1997, the Andean Community of Bolivia, Colombia, Ecuador, Peru and Venezuela formalized its plans to establish a common market. Members of the Caribbean Community and Common Market also agreed in several protocols to further their economic and social integration. During the 1990's, numerous other trade agreements were negotiated, and their development continues at the same rapid pace today.

scholarly journals The contradictions of regionalism in North America

2009 ◽  
Vol 35 (S1) ◽  
pp. 147-167 ◽  
Author(s):  
ANN CAPLING ◽  
KIM RICHARD NOSSAL
Keyword(s):  
North America ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Economic Implications ◽  
The North ◽  
The World

AbstractStudents of regionalism almost reflexively include North America in their lists of regions in contemporary global politics. Inevitably students of regionalism point to the integrative agreements between the countries of North America: the two free trade agreements that transformed the continental economy beginning in the late 1980s – the Canada–US Free Trade Agreement that came into force on 1 January 1989, and the North American Free Trade Agreement (NAFTA) between the United States, Mexico, and Canada, that came into force on 1 January 1994 – and the Secutity and Prosperity Partnership of North America (SPP), launched in March 2005. These agreements, it is implied, are just like the integrative agreements that forge the bonds of regionalism elsewhere in the world. We argue that this is a profound misreading, not only of the two free trade agreements of the late 1980s and early 1990s and the SPP mechanism of 2005, but also of the political and economic implications of those agreements. While these integrative agreements have created considerable regionalisation in North America, there has been little of the regionalism evident in other parts of the world. We examine the contradictions of North America integration in order to explain why North Americans have been so open to regionalisation but so resistant to regionalism.

scholarly journals The History and Future of Peru’s Fast Growing Economy

Perceptions ◽  
2018 ◽  
Vol 4 (1) ◽  
Author(s):  
Alessandra Restifo
Keyword(s):  
Free Trade ◽  
Economic History ◽  
Free Trade Agreement ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
The Pacific ◽  
The World ◽  
Growing Economy

After the United States’ withdrawal from the Trans-Pacific Partnership (TPP), the world of free trade entered a free-for-all, as countries searched for a viable course of direction toward a new free trade agreement. Peru seems to be leading an organized effort for the development of free trade agreements both within Latin America and across the Pacific. This is not surprising, as an analysis of Peru’s economic history will demonstrate. Despite its social complications, free trade has usually led to prosperity for Peru. With it currently being one of Latin America’s fastest growing economies, the loss of the TPP grants Peru the opportunity to see if their endurance and success will continue as they become more internationally integrated. If Peru succeeds with its plans of expanding free trade, which is analyzed in this paper, the country may serve as a model for countries just embarking to participate in the world of free trade economic policy.

scholarly journals Foreign trade relations between the Republic of Korea and the United States in the context of the development of integration processes

2020 ◽  
Vol 28 (4) ◽  
pp. 826-841
Author(s):  
Inna V. Andronova ◽  
Natalia V. Dyuzheva ◽  
Kirill A. Andronov
Keyword(s):  
South Korea ◽  
Foreign Trade ◽  
Free Trade ◽  
Trade Balance ◽  
Free Trade Agreement ◽  
Value Added ◽  
Trade Agreement ◽  
The United States ◽  
The Usa ◽  
Liberal Trade

The article examines the process of concluding, implementing and updating the Free Trade Agreement between the USA and South Korea, highlights the main problematic aspects of the functioning of the free trade area and the consequences for the bilateral trade of countries. The study found that South Korea benefited significantly from the negotiated liberal trade regime with the USA. The trade balance surplus of South Korea with the USA sharply increased - to a historic maximum of 25 billion dollars (in 2015), also South Korean exports of high-tech goods and high value-added goods increased significantly. For the USA, participation in the agreement led to an increase in the trade balance deficit and in the export of resources, agricultural goods and low value-added products. The observed consequences led to the use of a tough discriminatory policy by the USA, to the revision of the provisions of the Free trade agreement and to the military and political concessions from South Korea. As a result, the deficit of the US trade balance with South Korea decreased by 17.3% over the year, changes in the commodity structure of the countries' mutual trade are expected. The analysis proves the formation of a unified approach in US foreign trade policy towards partner countries within the framework of Free trade agreements, which lies in the mainstream of new protectionism and aimed at ensuring American geopolitical and economic interests.

scholarly journals U.S. Trade Representative Holds Environmental Consultations with South Korea Regarding Illegal, Unreported, and Unregulated Fishing

2020 ◽  
Vol 114 (2) ◽  
pp. 302-303
Keyword(s):  
United States ◽  
South Korea ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Enforcement Mechanisms ◽  
Unregulated Fishing

The United States requested environmental consultations with South Korea under the United States-Korea Free Trade Agreement (KORUS) in September 2019. This request occurred on the same day as the release of a report to Congress raising concerns about South Korea's response to illegal, unreported, and unregulated fishing. Following the consultations, South Korea amended its law regulating the Korean fisheries industry in order to make more enforcement mechanisms available.

South Korea in 2006: Nuclear Standoff, Trade Talks, and Population Trends

Asian Survey ◽  
2007 ◽  
Vol 47 (1) ◽  
pp. 52-57 ◽  
Author(s):  
Andrew Eungi Kim ◽  
John Lie
Keyword(s):  
United States ◽  
South Korea ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Nuclear Test ◽  
Low Fertility ◽  
Demographic Trends ◽  
World News

The nuclear test conducted by North Korea in October 2006 placed the Koreas at the center of world news. Prior to the nuclear test, free trade agreement talks with the United States dominated the year's domestic political discussions. Less newsworthy but potentially more profound are demographic trends, especially the rapid aging of the population, the record low fertility rate, and the rising number of intermarriages.

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