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How to Save the U.S.-Korea Free-Trade Deal

In June 2007, after 10 months of negotiation, Washington and Seoul signed the path-breaking U.S.-Korea Free Trade Agreement The U.S.-Korea Free Trade Agreement (also known as KORUS FTA) is a trade agreement between the United States and the Republic of Korea. Negotiations were announced on February 2, 2006 and were concluded on April 1, 2007.  [KorUS FTA], which would extend to South Korea the benefits of FTA status that 20 other countries enjoy with the U.S. The KorUS FTA is the most commercially significant bilateral free-trade agreement the U.S. has concluded in the 15 years since the adoption of the North American Free Trade Agreement North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994.  [NAFTA NAFTA
 in full North American Free Trade Agreement

Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's
], but prospects for ratification are diminishing as debate over the U.S. approach toward trade pacts moves to the center of the 2008 Presidential election cycle presidential election cycle

The tendency of the stock market to move in four-year cycles with rising markets occurring during the period before presidential elections.
. The recent protests in Seoul against the resumption of American beef imports add further doubt that Koreans will make the agreement's implementation a priority.
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Author:Hamilton Loeb, Scott Flicker and Christine Han
Publication:BusinessWeek
Date:Jun 30, 2008
Words:118
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