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News Release 18-081
Inv. No(s). FTA-103-031
Contact: Peg O'Laughlin, 202-205-1819
The U.S. International Trade Commission (USITC) today released U.S.-Korea FTA: Advice on Modifications to Duty Rates for Certain Motor Vehicles.
The USITC, an independent, nonpartisan, factfinding federal agency, produced the report at the request of the U.S. Trade Representative (USTR) pursuant to section 104 of the United States-Korea Free Trade Agreement Implementation Act.
As requested, the report provides advice on the probable economic effect of proposed modifications to the staging of customs duties for certain motor vehicles (light trucks and medium/heavy trucks) under the U.S.-Korea Free Trade Agreement on U.S. trade and on domestic producers of the affected articles. The proposed modifications would defer the elimination of duties until January 1, 2041. Because the United States currently imports few or no vehicles covered by the proposed modifications from Korea, the USITC made assumptions concerning Korean market shares and Korean export shares if Korea were to enter the U.S. truck market. The Commission presents five alternative scenarios in the report and designates one as “most likely.”
Based on the scenario the Commission believes is the most likely, the likely effect of the proposed modification is an avoided increase of U.S. imports from Korea of 59,000 light trucks and 7,600 medium/heavy trucks, assuming Korea enters the U.S. truck market and does so via exports and not exclusively transplant production. Similarly, the likely effect on total production in the United States is an avoided decrease in domestic production of 45,000 light trucks and 3,700 medium/heavy trucks under the same assumptions.
U.S.-Korea FTA: Advice on Modifications to Duty Rates for Certain Motor Vehicles (Inv. No. FTA-103-031, USITC publication 4791, June 2018) is available at https://www.usitc.gov/publications/332/pub4791.pdf.
News Release 12-029
Inv. No(s). Korea FTA-103-026
Contact: Peg O'Laughlin, 202-205-1819
The United States International Trade Commission (USITC) is seeking input for a newly initiated investigation on the effect of correcting the U.S.-Korea Free Trade Agreement product-specific rules of origin.
The investigation, Effect of Adding References to HS 6104.32 to Correct the U.S.-Korea Product-Specific Rules of Origin, was requested by the U.S. Trade Representative (USTR) in a letter received on March 22, 2012.
As requested, the USITC, an independent, nonpartisan, factfinding federal agency, will provide advice on the probable effect on U.S. trade under the FTA and total U.S. trade of correcting the U.S.-Korea product-specific rules of origin by adding references to HS 6104.32. HS 6104.32 covers women's or girls' knit cotton suit-type jackets and blazers. The USTR explained in his request letter that HS 6104.32 had been inadvertently omitted from both the English and Korean language versions of the FTA through a clerical error. The USTR's request letter can be viewed at: http://www.usitc.gov/research_and_analysis/ongoing/documents/Request_Letter_103-026_KORUS_HTS_Correction.pdf.
The USITC expects to submit its advice to the USTR by May 22, 2012.
The USITC is seeking input for its new investigation from all interested parties and requests that the information focus on the articles for which the USITC is requested to provide information and advice. The USITC will not hold a public hearing in connection with the investigation; however, the USITC welcomes written submissions for the record. Written submissions should be addressed to the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436 and should be submitted at the earliest practical date but no later than 5:15 p.m. on April 18, 2012.
Further information on the scope of this investigation and the procedures for written submissions is available in the USITC's notice of investigation, dated March 26, 2012, which can be downloaded from the USITC Internet site (www.usitc.gov) or by contacting the Secretary at the above address.
News Release 13-019
Inv. No(s). 332-539
Contact: Peg O'Laughlin, 202-205-1819
The U.S. International Trade Commission (USITC) has launched an investigation to learn from U.S. small and medium-sized enterprises (SMEs) about the effects of the U.S.-Korea Free Trade Agreement (KORUS) on U.S. SME exports to Korea.
The investigation, U.S.-Korea Free Trade Agreement: Effects on U.S. Small and Medium-Sized Enterprises, was requested by the U.S. Trade Representative (USTR) in a letter received on January 30, 2013.
In his letter, the USTR stated that one of the primary goals of the President's National Export Initiative is to increase export opportunities for America's SMEs and expand SME exports. He explained that a working group on SMEs established under the KORUS is exploring and developing ways for SMEs to take greater advantage of the economic opportunities created by the KORUS and said that the USITC investigation is intended to assist the USTR in better understanding the impact of the KORUS on U.S. SMEs since the agreement took effect in March 2012.
As requested, the USITC, an independent, nonpartisan, factfinding federal agency, will provide, to the extent practicable, a report discussing the effects of the KORUS on the production, distribution, and export strategy of U.S. SMEs, as identified by those SMEs, and describing how U.S. SMEs have benefited from specific provisions of the KORUS. The report will also explore challenges that U.S. SMEs may have faced in exporting to Korea. The investigation will cover trade in goods and services and intellectual property, and it will examine U.S. SME sectors listed in the three prior USITC reports on SMEs released in 2010.
The USITC will submit its report to the USTR by May 1, 2013.
The USITC will hold a public hearing in connection with the investigation at 9:30 a.m. on March 14, 2013. Requests to appear at the hearing should be filed no later than 5:15 p.m. on February 27, 2013, with the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. For further information, call 202-205-2000.
The USITC also welcomes written submissions for the record. Written submissions should be addressed to the Secretary of the Commission at the above address and should be submitted at the earliest practical date but no later than 5:15 p.m. on March 25, 2013. All written submissions, except for confidential business information, will be available for public inspection.
Further information on the scope of the investigation and appropriate submissions is available in the USITC's notice of investigation, dated February 7, 2013, which can be obtained from the USITC Internet site (www.usitc.gov) or by contacting the Office of the Secretary at 202-205-2000.
USITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representatives, the House Committee on Ways and Means, or the Senate Committee on Finance. The resulting reports convey the Commissions' objective findings and independent analyses on the subject investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the USITC submits its findings and analyses to the requester. General factfinding investigations reports are subsequently released to the public, unless they are classified by the requester for national security reasons.