Acting U.S. Trade Representative Demetrios Marantis marked the first anniversary of the U.S. – Korea Trade Agreement. Within this year, U.S. exports of transportation vehicles increased significantly, achieving a 48% rise.
The Office of the USTR expects that by 2016, 95% of U.S. exports to Korea will be completely duty free. Ambassador Marantis said, “One year in, I am pleased to see that the U.S. – Korea Trade Agreement is already producing promising results for U.S. businesses and workers in America’s factories, farms, and firms. As both of our economies improve, we look forward to seeing America’s growing exports to Korea support even more jobs here at home.”