{"id":19,"date":"2011-12-22T06:56:28","date_gmt":"2011-12-22T14:56:28","guid":{"rendered":"https:\/\/www.citizenstrade.org\/ctc\/oregon\/?page_id=19"},"modified":"2014-02-28T14:59:30","modified_gmt":"2014-02-28T22:59:30","slug":"korea-free-trade-agreement","status":"publish","type":"page","link":"https:\/\/www.citizenstrade.org\/ctc\/oregon\/korea-free-trade-agreement\/","title":{"rendered":"The Korea Free Trade Agreement"},"content":{"rendered":"<h3 style=\"text-align: left\" align=\"center\"><span style=\"color: #333333\"><b>Oregon Exports Hurting Under Korea Free Trade Agreement<\/b><\/span><\/h3>\n<p>As Oregon\u2019s Congressional delegation considers whether to \u201cfast track\u201d the pending Trans-Pacific Partnership (TPP) Free Trade Agreement, new government data indicates that President Obama\u2019s largest similar trade pact to date \u2014 the Korea Free Trade Agreement \u2014 has had a negative impact on exports from Oregon and throughout the nation.<\/p>\n<p>The Korea Free Trade Agreement reached its second anniversary on March 15, 2014.\u00a0 U.S. International Trade Commission data on trade with South Korea is currently available through the end of December 2013.\u00a0 That data shows that <b>the United States\u2019 monthly bilateral trade deficit has increased 49% under the pact.\u00a0 <\/b>The Economic Policy Institute estimated that the increase in imports and decrease in exports under the Korea Free Trade Agreement cost the United States <b>about 40,000 jobs in the first year alone.\u00a0 <\/b><\/p>\n<p>Specific to Oregon, government data shows that:<\/p>\n<ul>\n<li><b>Oregon\u2019s overall exports to South Korea were down 11% in the year after the Korea Free Trade Agreement\u2019s implementation compared to the year before. <\/b><\/li>\n<li>This equates to $116.7 million in reduced Oregon exports.<\/li>\n<\/ul>\n<p>A number of industries critical to Oregon\u2019s economy have specifically taken a hit.\u00a0 Government data accrued nationally shows that:<\/p>\n<ul>\n<li>Computer and electronic product exports are down an average of 12% per month under the Korea Free Trade Agreement;<\/li>\n<li>Apparel exports are down an average of 18% per month under the Korea Free Trade Agreement;<\/li>\n<li>Forestry product exports are down an average of 15% per month under the Korea Free Trade Agreement; and<\/li>\n<li>Paper exports are down an average of 6% per month under the Korea Free Trade Agreement.<\/li>\n<\/ul>\n<p>The TPP\u2019s economic impact on Oregon is expected to be magnitudes worse than the Korea Free Trade Agreement.\u00a0 As such, the Oregon Fair Trade Campaign is calling on Representative Kurt Schrader and the state\u2019s entire Congressional delegation to oppose \u201cfast track\u201d legislation that would allow the TPP to circumvent ordinary Congressional review, amendment and debate procedures.<\/p>\n<p><a href=\"https:\/\/www.citizenstrade.org\/ctc\/oregon\/files\/2011\/12\/KoreaFactSheet_Oregon20142.pdf\">Download this Information as a PDF<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oregon Exports Hurting Under Korea Free Trade Agreement As Oregon\u2019s Congressional delegation considers whether to \u201cfast track\u201d the pending Trans-Pacific Partnership (TPP) Free Trade Agreement, new government data indicates that President Obama\u2019s largest similar trade pact to date \u2014 the &hellip; 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