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

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Table 5.1 Selected GATT articles and U.S.-Korea FTA commitments related to customs administration GATT U.S.-Korea FTA Article VIII—Fees and Formalities Article 7.2—Release of Goods 1.(c) Minimize the incidence and complexity of import/export formalities. Article X—Publication and Administration of Trade Regulations 1. (in part) Laws, regulations, etc. shall be published promptly and in such a manner as to enable government and traders to become acquainted with them; trade policy agreements in force shall be published. 2. No measures may be enforced to change import duties or charges or other customs administrative practices before official publication. Article X—Publication and Administration of Trade Regulations 2. No measures may be enforced to change import duties or charges or other customs administrative practices before official publication. Article X—Publication and Administration of Trade Regulations 1. (in part) Prevents disclosure of confidential information. Article X—Publication and Administration of Trade Regulations 3. (b) Maintain and establish independent tribunals to review and correct customs administrative actions. 5-4 1. Shall adopt or maintain simplified customs procedures for the efficient release of goods (immediate). Article 7.1—Publication 1. Internet publication of laws, regulations, and administrative procedures (immediate). 2. Designate or maintain customs inquiry points and provide procedural information for inquiries via Internet (immediate). 3. Advance publication of regulations governing proposed customs matters and comment period (immediate). Article 7.5—Cooperation 1. Advance notice of significant modifications of administrative policy likely to substantially effect Agreement’s operation (immediate). Article 7.6—Confidentiality 1. Designated confidential information shall be maintained as such and will not be disclosed without prior permission (immediate). 2. Parties may decline to provide such information if confidentiality has not been maintained (immediate). 3. Adopt or maintain procedures to protect unauthorized disclosure (immediate). Article 7.8—Review and Appeal Importers will have access to independent administrative review and judicial review of determinations (immediate). Sources: USTR, “Final - United States - Korea FTA Texts,” 2007; and WTO, Trade Facilitation Documents.
Views of Interested Parties In its report on the agreement, ITAC 14 (Customs Matters and Trade Facilitation) stated that it supports the FTA. The report cited the agreement’s “fair and reciprocal” customs provisions, market access opportunities for U.S. industry, and economic benefits to Korean business. The report said that the FTA substantially meets the Committee’s objectives, in particular its goals of consistency with customs chapters in other agreements, 27 and equity and reciprocity in the area of customs administration. 28 The report notes that the agreement adopts many of the current best practices in international customs administration, such as 48hour release of goods, advanced publication of rules and regulations, confidentiality protection, and the use of risk assessment principles. In addition, the report says that the formation of a committee to administer the parties’ obligations raises the group’s confidence that its objectives would be attained. The report characterizes as “ground-breaking” the provisions that allow customs-related records to be maintained in any format, including electronic. The report also says that while the Committee is pleased with the 4-hour release period for express shipments, its goal is to reduce the time frame to one hour. Other ITACs have also expressed their support for the customs administration provisions. In its report, ITAC 11 (Small and Minority Business) said that it believes that “the chapter on Customs Procedures will enhance these opportunities while affording protections to small, medium, and minority businesses in the United States and Korea.” 29 The ITAC 10 (Services and Finance Industries) report includes supportive comments from the U.S. express delivery industry, namely that “the Agreement contains important provisions to facilitate customs clearance, which is critical to the efficient operation of express carriers, including a targeted window of no more than four hours for clearance of most express shipments and provisions allowing for electronic record retention.” 30 In its report, ITAC 4 (Consumer Goods) said that the Agreement would “deliver important benefits to consumer goods firms in terms of market access, regulatory transparency, and customs procedures.” 31 In its report, ITAC 3 (Chemicals, Pharmaceuticals, Health Science Products & Services) cited the strong customs administration provisions as “important to ensure that trade is not encumbered by onerous and nontransparent customs procedures.” 32 The Advisory Committee for Trade Policy Negotiations (ACTPN) also expressed support for the electronic and other modern provisions included in the agreement, which it said could result in goods being cleared through customs before they arrive at the port or airport. Furthermore, ACTPN said that it supports the provisions allowing advance comment on changes in customs rules, and binding advance rulings on tariff classification, preferential tariff treatment, and country of origin marking. 33 The Information Technology Industry Council (ITI) said that it believes that the customs administration and trade facilitation commitments meet the needs of its members, 27 Committee objectives included transparency of rules and regulations and inclusion of a mechanism to maintain “best practices” for the import and export process. ITAC (14) on Customs Matters and Trade Facilitation, Advisory Committee Report, April 18, 2007. 28 ITAC (14) on Customs Matters and Trade Facilitation, Advisory Committee Report, April 18, 2007. 29 ITAC (11) on Small and Minority Business, Advisory Committee Report, April 26, 2007. 30 ITAC (10) on Services and Finance Industries, Advisory Committee Report, April 25, 2007. 31 ITAC (4) on Consumer Goods, Report, April 26, 2007. 32 ITAC (3) on Chemicals, Pharmaceuticals, Health/Science Products and Services, Advisory Committee Report, April 24, 2007. 33 ACTPN, Report, April 26, 2007. 5-5
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U.S. International Trade Commission
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This report was prepared principall
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CONTENTS-Continued Chapter 3. Secto
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CONTENTS—Continued Chapter 5. Imp
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CONTENTS-Continued Chapter 7. Liter
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CONTENTS-Continued Tables—Continu
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Abbreviations and Acronyms 3G third
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Abbreviations and Acronyms—Contin
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Abbreviations and Acronyms—Contin
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vehicles) would likely be diverted
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Sector-specific Assessments The U.S
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total increased fish imports from K
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Korea would likely limit the impact
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Intellectual property rights (IPR):
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sector barriers. 5 These merchandis
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Table 1.1 U.S.-Korea FTA: Location
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Table 1.2 Korean tariff rates on im
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Table 1.4 U.S.-Korea FTA: Summary o
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observed GDP for model regions). Th
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Box 2.1 Interpreting the model resu
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Table 2.1 U.S.-Korea FTA: Simulated
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2-8 This page has been updated to r
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Figure 2.2 U.S-Korea FTA: Simulated
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As shown in figure 2.2, the largest
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2-14 This page has been updated to
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Economy-wide Impact of Implementing
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Grain (Wheat, Corn, and Other Feed
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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.
Page 128 and 129: Passenger Vehicles 433 Assessment U
Page 130 and 131: Table 3.16 Korean passenger vehicle
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Page 134 and 135: Box 3.4 Automotive-related FTA Prov
Page 136 and 137: access. The FTA affirms the parties
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Page 140 and 141: keep the products out.” 492 Mr. B
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Page 146 and 147: goods; and high-technology medical,
Page 148 and 149: device pricing, reimbursement, and
Page 151 and 152: CHAPTER 4 Impact of Market Access P
Page 153 and 154: elative to GDP than do China, Japan
Page 155 and 156: services as a substantial improveme
Page 157 and 158: Box 4.2 Financial services: Competi
Page 159 and 160: Summary of Provisions Chapter 13 of
Page 161 and 162: national treatment, full establishm
Page 163 and 164: Box 4.4 Competitive conditions in t
Page 165 and 166: and cross-connect links 70 are more
Page 167 and 168: Box 4.5 U.S. legal services trade w
Page 169 and 170: establish offices in Korea to provi
Page 171 and 172: Box 4.6 Competitive conditions in t
Page 173 and 174: equirements and foreign ownership r
Page 175 and 176: CHAPTER 5 Impact of Trade Facilitat
Page 177: publication and administration of t
Page 181 and 182: Summary of Provisions This chapter
Page 183 and 184: use of TBTs to protect Korea’s au
Page 185 and 186: conformity assessment procedures el
Page 187 and 188: FTA Chapter 15-Electronic Commerce
Page 189: Views of Interested Parties The U.S
Page 192 and 193: quantities as to be a substantial c
Page 194 and 195: that such transshipment could imped
Page 196 and 197: Box 6.1 Foreign investment in Korea
Page 198 and 199: in the FTA. The awards made by any
Page 200 and 201: Table 6.1 U.S.-Korea FTA: Industry
Page 202 and 203: (ITAC 5) report cited as particular
Page 204 and 205: Section C of Chapter 11 and the lac
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Page 208 and 209: FTA Chapter 17—Government Procure
Page 210 and 211: Both the United States and Korea ar
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Page 214 and 215: Box 6.2 Recent conditions of IPR pr
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Page 218 and 219: Views of Interested Parties A numbe
Page 220 and 221: GPHA stated in testimony before the
Page 222 and 223: Box 6.3 Labor market conditions in
Page 224 and 225: FTA Chapter 20—Environment 131 As
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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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