Hatch Statement on U.S.-South Korea Free Trade Agreement Entry into Force
Written by Scott Barnes on February 23, 2012.
SALT LAKE CITY – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, called today’s announcement by United States Trade Representative Ron Kirk that the United States-South Korea trade agreement will enter into force on March 15th welcome news to American exporters, but said he would carefully scrutinize its implementation to ensure that Korea upholds its end of the agreement. Hatch also again called on President Obama to renew Trade Promotion Authority (TPA).
“Today’s announcement means our farmers, ranchers, workers, and job creators are a step closer to having increased access to Korea’s thriving market to sell American goods and services. This trade agreement alone will increase American exports by $10 billion and support tens of thousands of American jobs,” said Hatch. “Opening Korea’s growing economy to our products, goods and services is a common-sense means of spurring economic growth and job creation in the United States without adding to our debt.”
With today’s announcement, the Obama Administration has determined that Korea has taken appropriate measures and procedures to comply with the terms of the free trade agreement, establishing an entry into force date of March 15, 2012. Hatch said he would ensu