Heritage ㅣ 2018.04.20
On March 28, 2018, Ambassador Robert Lighthizer and Republic of Korea Minister for Trade Hyun Chong Kim announced that the two countries had reached an agreement in principle on the renegotiation of the U.S.-Korea Free Trade Agreement (KORUS). The Trump Administration is hailing the renegotiation as a “historic” development in U.S. trade policy, however, the agreement is far from revolutionary. In trade negotiations, the Trump Administration should concentrate on achieving objectives that will truly advance trade opportunities for American businesses and consumers rather than polluting agreements with protectionist policies. As the U.S. moves forward with finalizing KORUS, and works on other free trade agreements, the focus should be to lower tariffs and non-tariff barriers to trade and investment on all sides, which will increase the freedom to trade for all Americans.