Just moments ago, President Obama formally sent the Korea-U.S. Free Trade Agreement to Capitol Hill for immediate consideration by Congress.
The U.S.-Korea FTA Business Coalition welcomed the announcement by the White House today that it is transmitting the implementing legislation for the U.S.-Korea free trade agreement (KORUS) to Congress for approval.
The U.S.-Korea FTA Business Coalition is a broad-based organization of more than 1,000 U.S. businesses and trade associations, co-chaired by Boeing, Chevron, Citigroup, Goldman Sachs, and Pfizer, that are working together to secure approval by Congress of the U.S.-Korea FTA. The U.S.-Korea Business Council serves as Coalition secretariat.
You too can join in this call for immediate passage of the long-delayed U.S.-Korea Free Trade Agreement, online here.
U.S.-Korea FTA Business Coalition
U.S. Chamber of Commerce
1615 H St. NW
Request for Support of the Free Trade Agreement with the Republic of Korea
I am writing today in support of the proposed Free Trade Agreement with the Republic of Korea.
Our community is economically trade dependent in a state renowned for its international trade efficiency and proficiency. Our Chamber, an “E Award for Export Service” recipient, with a wide diversity of members ranging from shipping to manufacturing, believes the KORUS FTA will bring immediate and tangible benefits to our community.
We have been a consistent supporter of free and fair trade, which offers opportunity to our entrepreneurs, jobs to our workforce and cheaper and more innovative products and services to our citizenry. U.S. goods exports to Korea would increase by $10-11 billion, according to estimates by the U.S. International Trade Commission. Nearly 257,000 Washington jobs are supported by goods exports.
Our export trade with Korea through our Port of Tacoma was $1.1 billion in 2010. Unfortunately, the trend since the high in 2004 has diminished as the KORUS FTA has languished and our trade competitors have made inroads into our market share.
Your prompt action to adopt encourage Congressional adoption of KORUS FTA will be helpful in restoring robustness to our nation’s economy and business to our communities and ports.
Gary D. Brackett, CCR
Manager, Business and Trade
Tacoma-Pierce County Chamber