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

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Abbreviations and Acronyms 3G third generation AAfA American Apparel & Footwear Association ACE American Council on Education ACLI American Council of Life Insurers AD-CVD antidumping and countervailing duty ADOGA American Dehydrated Onion and Garlic Association ADSL asymmetric digital subscriber line AdvaMed Advanced Medical Technology Association AEA American Electronics Association AIA Aerospace Industries Association of America, Inc.; American Insurance Association AMCHAM Korea American Chamber of Commerce in Korea AMI American Mushroom Institute, American Meat Institute AMTAC American Manufacturing Trade Action Coalition APEC Asia-Pacific Economic Cooperation APTA American Potato Trade Alliance ASA American Soybean Association ASEAN Association of Southern Asian Nations “aT” Korean Agro-Fishery Trade Corporation ATC Agreement on Textiles and Clothing AVE ad valorem equivalent BEA Bureau of Economic Analysis (U.S. Department of Commerce) BIT bilateral investment treaty BLS Bureau of Labor Statistics B2B business to business B2C business to consumer BSE bovine spongiform encephalopathy CAFTA-DR U.S. Free Trade Agreement with Central America and the Dominican Republic CAWG California Association of Winegrape Growers cc cubic centimeters CCAMLR Convention on Conservation of Antarctic Marine Living Resources CCGAC Cheju Citrus Grower’s Agricultural Cooperative CEA Consumer Electronics Association CE consumer electronics CGE computable general equilibrium c.i.f. cost, insurance, and freight CITES Convention on International Trade in Endangered Species CNC computerized numerically controlled CPA certified public accountant CRA Corn Refiners Association CRS Congressional Research Service CSI Coalition of Service Industries C-Trade Canadian federal-provincial committee for trade consultations DDGS distiller’s dried grains with solubles DOL Department of Labor DRAM dynamic random access memory EBS Educational Broadcasting System xi
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 10 and 11: CONTENTS-Continued Chapter 7. Liter
Page 12 and 13: CONTENTS-Continued Tables—Continu
Page 16 and 17: Abbreviations and Acronyms—Contin
Page 18 and 19: Abbreviations and Acronyms—Contin
Page 21 and 22: Executive Summary Overview If fully
Page 23 and 24: Summary of Findings Goods Market Ac
Page 25 and 26: increased market access after the e
Page 27 and 28: Passenger vehicles: U.S. exports of
Page 29 and 30: of the most comprehensive policy fr
Page 31 and 32: CHAPTER 1 Introduction Scope and Ap
Page 33 and 34: with a specific, negotiated range o
Page 35 and 36: U.S. service imports from Korea wer
Page 37 and 38: Table 1.3 U.S. tariff rates on impo
Page 39 and 40: CHAPTER 2 Impact of Tariff- and Tar
Page 41 and 42: Figure 2.1 U.S.-Korea FTA: Bilatera
Page 43 and 44: The specific policy assumptions are
Page 45 and 46: in ways that are economically ineff
Page 47 and 48: 2-9 This page has been updated to r
Page 49 and 50: Figure 2.3 U.S-Korea FTA: Simulated
Page 51 and 52: Aggregate U.S. trade with the world
Page 53 and 54: 2-15 Table 2.4 U.S.-Korea FTA: Simu
Page 55 and 56: CHAPTER 3 Sector-specific Assessmen
Page 57 and 58: Table 3.1 U.S. grain exports to and
Page 59 and 60: The National Association of Wheat G
Page 61 and 62: further dampen the demand for U.S.
Page 63 and 64: Animal Feeds 40 Assessment The U.S.
Page 65 and 66:
Table 3.5 Exporters share of animal
Page 67 and 68:
Starches 60 The National Corn Growe
Page 69 and 70:
Citrus Fruit 73 that uses modified
Page 71 and 72:
accounted for about 3 percent, Chil
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ad valorem, more than four times th
Page 75 and 76:
Market access in Korea for several
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to offset some of these transport c
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effect on U.S. imports of potato pr
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to improve accessability to foreign
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U.S. producers with respect to thes
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product from China, a global mushro
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The U.S.-Korea FTA would immediatel
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exports. Estimates from the Commiss
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to Korea. 227 An IDFA official test
Page 93 and 94:
Historically, Korea represents the
Page 95 and 96:
Figure 3.2 Consumer prices for beef
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Seafood 255 beef remain a major obs
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eliminated in ten equal increments
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chapter 21 (miscellaneous food) hav
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of these NTMs during the FTA negoti
Page 105 and 106:
Views of Interested Parties Welch F
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provision that would permit integra
Page 109 and 110:
Imports currently supply 41 percent
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would “severely damage Wellman”
Page 113 and 114:
forward rule of origin based on the
Page 115 and 116:
would grant immediate and reciproca
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said Korea is one of the fastest-gr
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(PhRMA), however, U.S. pharmaceutic
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Medical Devices chapter because lac
Page 123 and 124:
Table 3.13 Leading U.S. exports of
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a beneficial impact on copyright-ba
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that they would benefit from the ta
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Table 3.15 Korean passenger vehicle
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Box 3.3. Potential price and quanti
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Box 3.4 Automotive-related FTA Prov
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vehicles that receive a tax break i
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cheaper in the US market, helping o
Page 139 and 140:
provisions would allow Korean autom
Page 141 and 142:
On the accelerated dispute settleme
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currently exists in the context of
Page 145 and 146:
and said that these investments, wh
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y the Ministry of Health and Welfar
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Box 3.5 Potential price and quantit
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Box 4.1 Profile of services industr
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Summary of Provisions 13 Chapter 12
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FTA Chapter 13—Financial Services
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assets held by foreign banks. 31 To
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as an NCM a regulation 40 that requ
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investment (FDI) in facilities-base
Page 164 and 165:
Summary of Provisions The provision
Page 166 and 167:
Professional Services 75 Assessment
Page 168 and 169:
of standards and criteria and on te
Page 170 and 171:
opportunities for U.S. lawyers and
Page 172 and 173:
Summary of Provisions The provision
Page 174 and 175:
opportunities for U.S. content prov
Page 176 and 177:
shipments, 7 for example, meet or e
Page 178 and 179:
Table 5.1 Selected GATT articles an
Page 180 and 181:
particularly in the areas of risk a
Page 182 and 183:
The National Pork Producers Council
Page 184 and 185:
exist.” 58 For example, the Korea
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effectively address “Korea’s ef
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growth lags the implementation rate
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CHAPTER 6 Impact of Regulatory Prov
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In another departure from previous
Page 195 and 196:
FTA Chapter 11—Investment Assessm
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them significantly more competitive
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that have signed any other bilatera
Page 201 and 202:
Table 6.2 U.S.-Korea FTA: Industry
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measures were somewhat improved by
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automobile industry has raised conc
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of its members, the Korean governme
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Alternatively, the U.S. services se
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establishes a Working Group on Gove
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intellectual property rights under
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Full implementation and enforcement
Page 217 and 218:
Declaration and confirm that the ob
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In another submission to the Commis
Page 221 and 222:
Box 6.3 Labor market conditions in
Page 223 and 224:
party and the public and to be resp
Page 225 and 226:
Convention on Wetlands, the Interna
Page 227 and 228:
Summary of Provisions Chapter 21 of
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compensation could be negotiated, p
Page 231:
that the procedural deadlines as ou
Page 234 and 235:
Effects in the Commission’s analy
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The Petersen Institute for Internat
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Table 7.3 Change in output by secto
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access across almost all major serv
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free imports of competing foreign-p
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estrictions, establishment of an in
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frozen french fries account for an
Page 248 and 249:
While noting that the tariff phaseo
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Express Delivery and Logistics Asso
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Hyundai Motor Company 39 In a writt
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fifth-largest vehicle producer and
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will work with the U.S. Congress to
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pork cuts that are underutilized in
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SIA also said that the U.S.-Korea F
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strongly supports the U.S.-Korea FT
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In particular, USCIB expressed supp
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The Wine Institute and the CAWG sta
Page 268 and 269:
American Meat Institute (AMI) offic
Page 270 and 271:
Brown, Shawn. Generic Pharmaceutica
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Daegu (Korea), City of. “Milano P
Page 274 and 275:
Fiber Economics Bureau. American Fi
Page 276 and 277:
Hwang, Young-jin. “U.S. Textile B
Page 278 and 279:
ITAC on Services and Finance Indust
Page 280 and 281:
Korea IT Times. “KCS to Speed Up
Page 282 and 283:
______. “Draft: Written Testimony
Page 284 and 285:
National Potato Council (NPC). “C
Page 286 and 287:
Samjong KPMG. “What's New at KPMG
Page 288 and 289:
Trade Reports International Group.
Page 290 and 291:
______. “Korea Biotechnology Agri
Page 292 and 293:
______. “Seafood Inspection Progr
Page 294 and 295:
______. “Korea.” 2007 National
Page 296 and 297:
______. “International Trade Stat
Page 299:
The Honorable Daniel R. Pearson Cha
Page 303 and 304:
pwalker on PROD1PC71 with NOTICES P
Page 305:
pwalker on PROD1PC71 with NOTICES B
Page 309 and 310:
CALENDAR OF PUBLIC HEARING Those li
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ORGANIZATION AND WITNESS: PANEL 2 W
Page 315 and 316:
U.S.-Korea FTA Chapter-by-Chapter S
Page 317 and 318:
FTA Chapter 4—Textiles and Appare
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accessories, not knitted or crochet
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pharmaceutical products and medical
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to 6 hours in recent agreements. 32
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Safeguards Agreement. The chapter,
Page 327 and 328:
Section C of the chapter contains d
Page 329 and 330:
exceptions. The benefits of this ch
Page 331 and 332:
establish offices in Korea to provi
Page 333 and 334:
as an NCM a regulation 61 that requ
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laws, if furnished with specifics r
Page 337 and 338:
The government procurement annex co
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The section on measures related to
Page 341 and 342:
party to call together a national l
Page 343 and 344:
prescribed deadline, either party c
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APPENDIX E Korea Economic Profile a
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KOREA-CONTINUED Leading U.S. export
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Table E.2 Leading U.S. imports from
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The GTAP Model The discussion that
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In addition to the data on bilatera
Page 357 and 358:
other barriers. 5 As tabulated, the
Page 359 and 360:
The simulation results presented in
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APPENDIX G General Effects of Trade
Page 364 and 365:
Static Effects: Terms of Trade The
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Tariff Equivalents in Korean Bankin
Page 369 and 370:
Econometric Analysis Following the
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Results variability, which is the v
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oughly one-half from the Uruguay Ro
Page 377 and 378:
Table I.1 U.S.-Korea FTA: Korean se
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Table I.2 U.S.-Korea FTA: U.S. serv
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Use of Indicative Quantitative Info
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2004-2006 calendar years, we report
Page 389 and 390:
Below are examples of regulations a
Page 391 and 392:
Additionally, foods and food additi
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