U.S.-Korea Free Trade Agreement: Potential Economy-wide ... - USITC

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CONTENTS–Continued Chapter 7. Literature review and summary of positions of interested parties—Continued American Insurance Association ................................... 7-12 American Manufacturing Trade Action Coalition ...................... 7-13 American Potato Trade Alliance ................................... 7-13 Bumble Bee Foods, LLC ......................................... 7-14 The California Table Grape Commission ............................ 7-14 Coalition of Services Industries .................................... 7-15 Corn Refiners Association ........................................ 7-15 Emergency Committee for American Trade .......................... 7-16 Entertainment Industry Coalition ................................... 7-17 Express Delivery and Logistics Association .......................... 7-18 Ford Motor Company ........................................... 7-18 Form Factor ................................................... 7-19 Hyundai Motor Company ........................................ 7-20 International Intellectual Property Alliance ........................... 7-20 Information Technology Industry Council ............................. 7-21 International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) .......................... 7-21 National Association of Manufacturers .............................. 7-22 The National Cattlemen’s Beef Association .......................... 7-23 National Corn Growers Association ................................ 7-24 National Council of Textile Organizations ........................... 7-24 National Electrical Manufacturers Association ........................ 7-25 The National Pork Producers Council .............................. 7-25 National Potato Council .......................................... 7-26 Pharmaceutical Research and Manufacturers of America ............... 7-26 Rubber and Plastic Footwear Manufacturers Association ................ 7-27 Semiconductor Industry Association ............................... 7-27 Society of the Plastics Industry .................................... 7-28 Telecommunications Industry Association ........................... 7-28 Time Warner Inc. ............................................... 7-29 Travel Goods Association ........................................ 7-29 U.S.-Korea Business Council ...................................... 7-30 U.S.-Korea FTA Business Coalition ................................ 7-31 United States Council for International Business ...................... 7-31 Welch Foods Inc., a Cooperative ................................... 7-32 Wellman, Inc .................................................. 7-33 The Wine Institute and the California Association of Winegrape Growers ................................................... 7-33 vi Page
CONTENTS–Continued Bibliography ........................................................ Biblio-1 Appendixes A. Request Letter from USTR ................................................... A-1 B. Federal Register Notices ..................................................... B-1 C. Hearing Participants......................................................... C-1 D. U.S.-Korea FTA: Chapter-by-Chapter Summary .................................. D-1 E. Korea Economic Profile and Trade Tables ....................................... E-1 F. GTAP Model .............................................................. F-1 G. General Effects of Trade Agreements ........................................... G-1 H. Tariff Equivalents in Korean Banking Services.................................... H-1 I. Services Nonconforming Measures Tables ....................................... I-1 J. Description of Possible Nontariff Measures Analysis ............................... J-1 K. Overview of Agricultural-sector-related Regulatory Environment in Korea .............. K-1 Tables 1.1. U.S.-Korea FTA: Location of analysis of FTA chapters in the Commission’s report . . . 1-4 1.2. Korean tariff rates on imports from the United States ........................... 1-6 1.3. U.S. tariff rates on imports from Korea ...................................... 1-7 1.4. U.S.-Korea FTA: Summary of tariff commitments ............................. 1-8 2.1. U.S.-Korea FTA: Simulated effects of trade liberalization on U.S. GDP and welfare from a projected 2008 baseline ......................................... 2-6 2.2. U.S.-Korea FTA: Simulated effects on U.S.-Korea bilateral trade from a projected 2008 baseline ....................................................... 2-8 2.3. U.S.-Korea FTA: Simulated effects on U.S. global trade from a projected 2008 baseline ....................................................... 2-14 2.4. U.S.-Korea FTA: Simulated effects on U.S. output and employment from a projected 2008 baseline ............................................... 2-15 3.1. U.S. grain exports to and market access in Korea ............................... 3-3 3.2. U.S. oilseed product exports to and market access in Korea ...................... 3-8 3.3. Animal feed exports to Korea, MFN tariff, and liberalization ..................... 3-10 3.4. Exporters share of soybean meal exports to Korea .............................. 3-10 3.5. Exporters share of animal feed preparations exports to Korea ..................... 3-11 3.6. Exporters share of pet food exports to Korea .................................. 3-11 3.7. Exporters share of distiller’s dried grains with solubles exports to Korea ............ 3-12 3.8. U.S. starch exports to and market access in Korea .............................. 3-14 3.9. U.S.-Korea trade and tariff liberalization for selected fruit, 2006 .................. 3-20 3.10. Selected Korean dairy TRQs on imports from the United States ................... 3-36 3.11. Korea: Pork and poultry liberalization schedule................................ 3-41 3.12. Korean imports of selected processed foods ................................... 3-46 vii Page
Page 2 and 3: U.S. International Trade Commission
Page 4 and 5: This report was prepared principall
Page 6 and 7: CONTENTS-Continued Chapter 3. Secto
Page 8 and 9: CONTENTS—Continued Chapter 5. Imp
Page 12 and 13: CONTENTS-Continued Tables—Continu
Page 15 and 16: Abbreviations and Acronyms 3G third
Page 17 and 18: Abbreviations and Acronyms—Contin
Page 19: Abbreviations and Acronyms—Contin
Page 22 and 23: vehicles) would likely be diverted
Page 24 and 25: Sector-specific Assessments The U.S
Page 26 and 27: total increased fish imports from K
Page 28 and 29: Korea would likely limit the impact
Page 30 and 31: Intellectual property rights (IPR):
Page 32 and 33: sector barriers. 5 These merchandis
Page 34 and 35: Table 1.1 U.S.-Korea FTA: Location
Page 36 and 37: Table 1.2 Korean tariff rates on im
Page 38 and 39: Table 1.4 U.S.-Korea FTA: Summary o
Page 40 and 41: observed GDP for model regions). Th
Page 42 and 43: Box 2.1 Interpreting the model resu
Page 44 and 45: Table 2.1 U.S.-Korea FTA: Simulated
Page 46 and 47: 2-8 This page has been updated to r
Page 48 and 49: Figure 2.2 U.S-Korea FTA: Simulated
Page 50 and 51: As shown in figure 2.2, the largest
Page 52 and 53: 2-14 This page has been updated to
Page 54 and 55: Economy-wide Impact of Implementing
Page 56 and 57: Grain (Wheat, Corn, and Other Feed
Page 58 and 59: Korea imported 3.8 million mt of wh
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U.S. oilseed product exports to Kor
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Table 3.2 U.S. oilseed product expo
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Table 3.3 Animal feed exports to Ko
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consumed domestically by the U.S. l
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ates. For corn starch, the United S
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quota rates have been effectively e
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Noncitrus Fruit 87 Views of Interes
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3-20 Table 3.9 U.S.-Korea trade and
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Korean grapes are much more costly
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Potato Products 122 Assessment The
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ate is 304 percent ad valorem. 141
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Other Vegetables 162 Assessment The
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U.S. exports of other fresh and pro
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tariff concessions that could accru
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Dairy Products 215 Similarly, the p
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TRQ for food whey, 223 based on cur
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potential changes in trade based so
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Figure Figure 3.1 Korea: Beef and v
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Views of Interested Parties The inc
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are subject to the same food safety
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enefit under the provisions of this
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Box 3.2 Potential price and quantit
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50 percent, while the vegetable jui
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and major supplier, and U.S. tariff
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textiles and apparel through 2005.
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U.S. Exports The impact of the FTA
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passage. NCTO indicated that, even
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In its report, the ITAC on Distribu
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of the U.S. footwear market, with C
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of these producers. 362 RPFMA noted
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prohibit improper inducements by ph
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Machinery, Electronics, and Transpo
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U.S. exports of auto parts would be
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imports from and exports to Korea.
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Passenger Vehicles 433 Assessment U
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Table 3.16 Korean passenger vehicle
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import activities have continued
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Box 3.4 Automotive-related FTA Prov
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access. The FTA affirms the parties
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gaining U.S. market share regardles
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keep the products out.” 492 Mr. B
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these vehicles to Korea. The commit
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Brown expressed concern about the r
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goods; and high-technology medical,
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device pricing, reimbursement, and
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CHAPTER 4 Impact of Market Access P
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elative to GDP than do China, Japan
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services as a substantial improveme
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Box 4.2 Financial services: Competi
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Summary of Provisions Chapter 13 of
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national treatment, full establishm
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Box 4.4 Competitive conditions in t
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and cross-connect links 70 are more
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Box 4.5 U.S. legal services trade w
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establish offices in Korea to provi
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Box 4.6 Competitive conditions in t
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equirements and foreign ownership r
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CHAPTER 5 Impact of Trade Facilitat
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publication and administration of t
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Views of Interested Parties In its
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Summary of Provisions This chapter
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use of TBTs to protect Korea’s au
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conformity assessment procedures el
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FTA Chapter 15-Electronic Commerce
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Views of Interested Parties The U.S
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quantities as to be a substantial c
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that such transshipment could imped
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Box 6.1 Foreign investment in Korea
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in the FTA. The awards made by any
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Table 6.1 U.S.-Korea FTA: Industry
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(ITAC 5) report cited as particular
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Section C of Chapter 11 and the lac
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practices, and violations of consum
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FTA Chapter 17—Government Procure
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Both the United States and Korea ar
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8) 87 also expressed support for th
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Box 6.2 Recent conditions of IPR pr
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protection to life of the author pl
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Views of Interested Parties A numbe
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GPHA stated in testimony before the
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Box 6.3 Labor market conditions in
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FTA Chapter 20—Environment 131 As
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trade measures are the least disrup
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FTA Chapter 22-Institutional Provis
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Views of Interested Parties The Ind
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CHAPTER 7 Literature Review and Sum
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7-3 Table 7.1 Model, liberalization
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terms. Much of the increase in U.S.
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Liberalization generated small incr
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Sander Levin, Member of the U.S. Ho
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Regarding footwear and travel goods
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Korea’s establishment as a region
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The California Table Grape Commissi
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order activity, and facilitate expa
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At the Commission’s hearing, Mr.
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Information Technology Industry Cou
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With respect to tariff and nontarif
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deterring illegal transshipments. I
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PhRMA identified what it views as t
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the TIA stated that it supports the
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access to the market. The Council a
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United States, Spain, Chile, Brazil
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Bibliography Advanced Medical Techn
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AT&T. “AT&T Reaction to Free Trad
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______. “Korea-U.S. Free Trade Re
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______. “Country Finance: South K
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Global Trade Information Services I
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International Labor Organization (I
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Jones, Laura E. Executive Director.
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Lee, Hyunok, and Daniel A. Sumner.
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Nam, In-Soo. “Helio's Losses To W
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Powers, Mark. Northwest Horticultur
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Smith, Brad. American Council of Li
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U.S.-Korea Business Council (USKBC)
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______. “Korea, Republic of Oilse
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U.S. International Trade Commission
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Ward, David. American Council on Ed
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APPENDIX A Request Letter from USTR
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APPENDIX B Federal Register Notices
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pwalker on PROD1PC71 with NOTICES 2
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APPENDIX C Hearing Participants
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ORGANIZATION AND WITNESS: PANEL 1 (
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APPENDIX D U.S.-Korea FTA: Chapter-
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fees and charges on trade in goods
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determines the tariff classificatio
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The transparency provisions would a
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necessary duties within 1 year of i
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technical regulation or conformity
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procedures), and practices of a par
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aviation, fisheries, or maritime ma
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of standards and criteria and on te
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of the FTA that impose unilateral o
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use of electronic authentication in
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parties’ rights and obligations u
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establishment of Uniform Domain-Nam
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government to take appropriate meas
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environmental laws. 102 In the U.S.
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not limited to, policies on commerc
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Economic indicators 2002 2006 Popul
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Table E.1 Leading U.S. exports to K
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APPENDIX F GTAP Model
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Updating the GTAP Database The curr
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Key Assumptions Agency. 4 The price
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Table F.2 U.S.-Korea FTA benchmark
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Measuring the Impacts of the FTA an
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General Effects of Trade Agreements
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APPENDIX H Tariff Equivalents in Ko
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Previous Literature The method for
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For the purposes of this report, a
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Table H.1 Tariff equivalents in Kor
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APPENDIX I Services Nonconforming M
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Table I.1 U.S.-Korea FTA: Korean se
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APPENDIX J Description of Possible
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are in effect import prices, and th
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APPENDIX K Overview of Agricultural
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Additionally, although current regu
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About This Report The United States
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U.S.-Korea Free Trade Agreement: Potential Economy-wide ... - USITC

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