President Obama has set an ambitious goal of doubling U.S. exports by 2015, supporting at least two million additional American jobs. As the President departs for Latin America to promote U.S. exports and U.S. jobs, we at the Office of the United States Trade Representative are continuing to work on three pending free trade agreements – with Korea, Panama, and Colombia – that can support these National Export Initiative goals.
In December, President Obama announced that the United States and South Korea have finalized an historic trade deal that will increase U.S. exports to Korea by $11 billion annually while supporting 70,000 American jobs. The news has been met with high praise from a wide range of groups, including the United Auto Workers, Ford Motor Company, General Motors, the U.S. Chamber and the American Farm Bureau Federation, to name a few stakeholders. They know the positive impact this agreement will have on U.S. businesses and families, from auto workers to cattle ranchers to high-tech manufacturers and service providers.
The U.S.-Korea trade agreement would eliminate tariffs on more than 95 percent of industrial and consumer goods within five years, creating a more open and fair Korean market for U.S. auto companies and workers, and new opportunities for U.S. manufacturers, farmers and ranchers. In real terms, U.S. beef producers could expect to save $90 million annually with the progressive elimination of Korea’s existing tariff.
Fonte: White House