US Agriculture Has Failed To Benefit From Korean Free Trade Agreement: Time For a New Approach

By Jeff Ferry, CPA Research Director  A major reason the US Congress and Obama administration approved the KORUS free trade agreement with South Korea in 2011 was the expected benefits to US agricultural exports.  Six years later, it’s now clear those benefits have not materialized. US agricultural exports to South Korea have fallen 9% since 2011,…

Do Savings Rates Cause Trade Deficits?

By Michael Stumo, CEO of CPA, and Jeff Ferry, Research Director Some influential economists misleadingly assert that US trade deficits are caused by American households failing to save enough and also by federal budget deficits. Taking action against strategic foreign economic policies, their story continues, would be futile. This paper comprehensively disproves the savings rate…