Mixed reactions to US and South Korea trade agreement
After nearly 10 months of negotiations, the US and South Korea have concluded a free trade agreement, however, there have been mixed responses.
â€œPoultry is one of the agricultural items that will benefit from the FTA in the long run, and veterinary/sanitary phytosanitary agreements will go into effect regardless of Congressional vote on the FTA,â€ said the USA Poultry & Egg Export Council.
USAPEEC president Jim Sumner: â€œThis agreement will eventually eliminate all poultry and egg tariffs and immediately bring an improvement to disease issues such as AI restrictions.â€
The trade deal is appaarently the largest agreement since NAFTA (North American Free Trade Agreement) was signed 1 January, 1994. It has been said that this agreement could increase trade between the two countries to US$20 billion (€14.9 billion).
The agreement needs to undergo act of Trade Promotion Authority (TPA) before it becomes official.