U.S.-Korea FTA: The Economic Impact of Establishing a Free Trade Agreement (FTA) Between the United States and the Republic of Korea

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Following receipt of a request on December 18, 2000, from the Senate Committee on Finance (Committee), the Commission instituted investigation No. 332-425, U.S.-Korea FTA: The Economic Impact of Establishing a Free Trade Agreement (FTA) Between the United States and the Republic of Korea, under section 332(g) of the Tariff Act of 1930 (19 U.S.C. 1332(g)). The Commission plans to submit its report by September 18, 2001. As requested by the Committee, in its report the Commission will provide to the extent possible: An overview of the Korean economy An overview of the current economic relationship between the United States and the Republic of Korea, including a discussion of the important industry sectors in both countries An inventory and analysis of the main barriers (tariff and nontariff) to trade between the United States and the Republic of Korea To the extent data are available, the estimated effects of eliminating all quantifiable trade barriers (tariff and nontariff), with special attention to agricultural goods, on: The volume of trade in goods and services between the two countries Sectoral output and gross domestic product for each country Wages and employment across indus