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ITC TO STUDY EFFECTS OF U.S./KOREA FREE TRADE AGREEMENT The U.S. International Trade Commission has started a general fact-finding investigation to study the economic impact of a free
trade agreement between the United States and Korea. The investigation, U.S.-Korea FTA: The Economic Impact of Establishing a Free Trade Agreement (FTA) between the United States and the
Republic of Korea (Inv. No. 332-425), was requested by the Senate Finance Committee in a letter received by the ITC on Dec. 18. The report will include an overview of the Korean economy
and its economic relationship to the United States, including discussion of important industry sectors in both countries; tariff and non-tariff barriers; and possible effects of eliminating
tariff and non-tariff barriers, with special attention to agricultural goods. The ITC will be sent to the Senate Finance Committee on Sept. 18. The Senate Finance Committee said the Korea
report will be the first in a series of reports that it expects to request from the ITC over the next several months.