For Immediate Release: Thursday, July 1, 2010
Contact: Karen Conner or Eve Turow, email@example.com 202-775-8810
The Obama administration has announced that it intends to finalize a new free trade agreement with South Korea (KORUS FTA) in time for the next G-20 summit in November. Unlike the U.S. International Trade Commission (USITC) forecast of a small positive impact, EPI’s new Snapshot shows it will increase the U.S. trade deficit with Korea by about $16.7 billion, and displace about 159,000 American jobs within the first seven years after it takes effect. Click here for the full Snapshot.