January 28, 2011
News Release 11-010
Inv. No. 332-523
Contact: Peg O'Laughlin, 202-205-1819
USITC TO INVESTIGATE MODIFICATIONS TO THE U.S.-KOREA FTA
AFFECTING PASSENGER VEHICLES
The U.S. International Trade Commission (USITC) is seeking input for a newly initiated investigation concerning recently negotiated modifications to the U.S.-Korea Free Trade Agreement affecting the U.S. passenger vehicle sector.
The investigation, U.S.-Korea Free Trade Agreement: Passenger Vehicle Sector Update (Investigation No. 332-523), was requested by the U.S. House of Representatives' Committee on Ways and Means.
The USITC, an independent, nonpartisan, factfinding federal agency, will provide an update to an assessment originally provided to the U.S. Trade Representative in 2007 in conjunction with the conclusion of negotiations between the United States and Korea on a bilateral free trade agreement. As requested, the Commission will update its assessment of the impact of the motor vehicle-related provisions in the KORUS FTA, including the supplemental autos agreement, on the U.S. passenger vehicle sector. The Commission will use the most recent data available and will include a modeling simulation of the effects of the auto non-tariff measures in its assessment.
The USITC expects to submit its report to the Committee by March 15, 2011.
The USITC is seeking input for its new investigation from all interested parties and requests that the information focus on the modifications to the agreement affecting the U.S. passenger vehicle sector. There will be no public hearing in connection with this investigation, but the USITC welcomes written submissions for the record. Written submissions should be addressed to the Secretary to the 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 February 14, 2011.
Further information on the scope of the investigation is available in the USITC's notice of investigation, dated January 28, 2011, which can be obtained from the USITC Internet site (www.usitc.gov) or by contacting the office of the Secretary at the above address or 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 Representative, the House Committee on Ways and Means, or the Senate Committee on Finance. The resulting reports convey the Commission's objective findings and independent analyses on the subjects 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 investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.