The ROK Free Trade Agreement Entered Into Force &Nbsp, And The Two Textile Companies Were Different.

The Korea - us free trade agreement (KORUS) came into effect in March 15, 2012.

The United States Congress passed, President Obama signed in October 2011, the South Korean National Assembly approved in the next month.

The US Trade Representative Office (USTR) recently issued a statement that "the Korea us free trade agreement is the most commercially significant free trade agreement (FTA) signed by the United States in the past 20 years".

The Korea us free trade agreement is an agreement signed between the United States and a major Asian economy. It is the first time since the North American free trade agreement that it signed an agreement with a developed textile industry and a large number of textile exports to the United States.

The board of directors of the National Textile Organization (NCTO) reported that Korea is the fifth largest textile exporting country to the United States.

US trade representative ambassador Ron Kirk issued a statement that the agreement came into effect.

The statement said that from today on, South Korea has opened the door to exports of manufactured goods in the United States, which will provide support for high wage employment opportunities in the United States.

From manufactures to telecommunications services to agricultural products, more Americans can go back to work, make goods, provide services, and grow crops that are exported to Korea.

The US Korea agreement is a landmark agreement signed with important allies.

President Obama has set up a trade policy to solve the real obstacles faced by US exporters and workers, and this agreement has the cutting edge. We are glad to see that it will benefit the United States and South Korea from today.

The US textile and garment industry has mixed opinions on the Korea US agreement.

Opponents of the agreement, such as textile manufacturers and organizations in the United States, including the National Textile Association, the American Manufacturing Trade Action Alliance (AMTAC), the American Industrial Fabrics Association (USIFI) and NCTO, said that the agreement would not create employment opportunities. On the contrary, the free trade agreement would lead to continuous outsourcing and employment opportunities, because the agreement did not treat the textile products of the United States and Korea in an equitable way, and abolished certain textile enforcement measures, which would lead to a large number of illegally manufactured Chinese made products entering the US market without duty.

In addition, South Korea and the United States demand that the United States reduce tariffs faster than South Korea. Opponents fear that this provision will not allow us suppliers to have the opportunity to adapt to the Korean industry.

USIFI and AMTAC oppose the free trade agreement in a statement. They say the US International Trade Commission (USITC) estimates that the US textile and clothing output will decline due to the Korea us free trade agreement.

The United States International Trade Commission also estimated that the decline will be the biggest extent experienced by the US textile and garment industry, on the grounds that imports from the United States will increase.