South Korea is slated to complete an economic feasibility assessment this week outlining potential amendment areas — which could include agriculture — in the U.S.-Korea Free Trade Agreement, according to sources and media reports.
[Isabelle Hoagland | November 6, 2017 | Inside US Trade]
In accordance with its statutory requirements for renegotiating trade agreements, South Korea is developing an economic feasibility assessment that reportedly outlines amendment scenarios including possible greater market openness in the agriculture, investment and services sectors, a Korean news service, the Hankyoreh reported last week.
One “major scenario” being considered for the document involves “additional openness and early tariff abolition above current tariff concession levels, moving up the tariff abolition timeline for hundreds of manufacturing items and including additional openness for some ‘sensitive’ agricultural products ” the news service states, citing “sources with the state economic think tanks in charge of the report’s drafting.”
