News
 International
   Global Views
   Asia-Pacific
   America
   Europe
   Middle East & Africa
 National
 Embassy News
 Arts & Living
 Business
 Travel & Hotel
 Medical Tourism New
 Taekwondo
 Media
 Letters to Editor
 Photo Gallery
 News Media Link
 TV Schedule Link
 News English
 Life
 Hospitals & Clinics
 Flea Market
 Moving & Packaging
 Religious Service
 Korean Classes
 Korean Weather
 Housing
 Real Estate
 Home Stay
 Room Mate
 Job
 English Teaching
 Translation/Writing
 Job Offered/Wanted
 Business
 Hotel Lounge
 Foreign Exchanges
 Korean Stock
 Business Center
 PR & Ads
 Entertainment
 Arts & Performances
 Restaurants & Bars
 Tour & Travel
 Shopping Guide
 Community
 Foreign Missions
 Community Groups
 PenPal/Friendship
 Volunteers
 Foreign Workers
 Useful Services
 ST Banner Exchange
  America
Statement of Congressman Brad Sherman on proposed U.S. – South Korea Trade Pact
US Congressman Brad Sherman

WASHINGTON, DC – Congressman Brad Sherman (D-CA), who chairs the House Foreign Affairs Subcommittee on Terrorism, Nonproliferation and Trade issued the following statement concerning the proposed U.S. – South Korea Trade Pact:

“It’s all well and good to increase exports, but not if we increase imports by an even larger amount. Every trade pact increases American employment in some industries, and costs jobs in other industries.”

“Proponents of the trade pact are arguing it will increase U.S. exports to South Korea by $11 billion. This may well be accurate, but it is on the basis of an incomplete analysis.

“I’m extremely concerned that the proposed trade pact will increase U.S. imports from South Korea far more than it increases our exports to South Korea. Calculations by the Economic Policy Institute show that our trade deficit in 2008 with South Korea was some $13.4 billion dollars. The Economic Policy Institute further estimates that in 2015 our trade deficit will more than double to $26.9 billion if we enter into a free trade agreement with South Korea.

“I look forward to looking at the last-minute changes made to the text to see whether any new concessions by South Korea altered the conclusions reached by the Economic Policy Institute. Any trade agreement that increases our imports substantially more than our exports will cost America jobs.”

Contact:
Matthew Farrauto
Senior Advisor and Communications Director
U.S. Congressman Brad Sherman
2242 Rayburn House Office Building
Washington, DC 20515
(202) 225-5911
Direct: (202) 226-8434



Related Articles
    US Congressman Sherman Disputes Estimates of ...
    Help South Korea, Not the North
    "US FTA with S. Korea Will Benefit N. Korea"


 

back

 

 

 

The Seoul Times Shinheungro 25-gil 2-6 Yongsan-gu, Seoul, Korea 04337 (ZC)
Office: 82-10-6606-6188 Email:seoultimes@gmail.com
Copyrights 2000 The Seoul Times Company  ST Banner Exchange