[THE INVESTOR] The Korea-US free trade agreement has led to an increase of $4.8 billion-$5.3 billion in total American exports, the second-largest among 13 FTAs signed by the US, according to a report by the US trade agency on June 30.

The International Trade Commission report shows that bilateral deal has been highly effective in increasing US exports to Korea, contrary to claims by Republican presidential candidate Donald Trump that it brought little benefits.



The report, titled “Economic Impact of Trade Agreements Implemented Under Trade Authorities Procedures,” notes that the 1994 North American free trade agreement brought about the biggest increase in US exports, from $24.2 billion to $126 billion.

Trump and his aides have been highly critical of FTA deals by the US.

In an economic speech on June 29, he accused the pact of enlarging US trade deficits and costing a number of American jobs, calling it “a job-killing deal.”

Trump also vowed to pull out of the 12-nation Trans-Pacific Partnership if elected president. He vowed to immediately renegotiate NAFTA to get a better deal, and withdraw from it unless Canada and Mexico agree to a renegotiation.

(theinvestor@heraldcorp.com)