WCIT Urges Against Withdrawal from U.S.-Korea Free Trade Agreement (KORUS)

SEATTLE – The Washington Council on International Trade and its members – manufacturers, farmers, retailers and service providers from across Washington state – urge the Trump Administration to remain a party to the U.S.-Korea Free Trade Agreement (KORUS).

“South Korea is a vital trading partner for Washington state,” said WCIT President Lori Otto Punke. “We run a trade surplus of $2 billion with Korea, and many of our exports have seen consistent growth thanks to KORUS. Washington-grown potatoes and cherries are in high demand in Korea and Washington farmers have seen export increases as large as 80% for potato products and an astonishing 200% for cherries. Although Korea is the United States’ fifth largest export market for agriculture, benefits are not limited to this sector, and KORUS has provided opportunities for all kinds of local businesses, from aerospace and medical device manufacturers to commercial fishers.”

“As with all of our trade agreements, there are areas where KORUS could be improved, but it is important to approach any reform thoughtfully.”

Read more on our blog, KORUS Five Years Later: Triumphs and Challenges.

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