New Free Trade Agreements Will Improve California Farm Export Prospects

Lee, Hyunok and Daniel A. Sumner

from ARE Update Vol. 15, No. 2, Nov/Dec, 2011

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Abstract

The Korea free trade agreement, along with smaller agreements with Colombia and Panama, was negotiated several years ago. However, legislation approving of these agreements finally passed the U.S. Congress and was signed by President Obama only on Oct. 21, 2011. By removing tariffs and other barriers, free trade agreements create larger market opportunities for U.S. farm exports. The potential benefits of the agreement with Korea will be sizable for the United States and California agriculture.

Keywords

free trade, Korea, KORUS FTA, tariffs, TRQ, agricultural exports

Citation

Lee, Hyunok and Daniel A. Sumner. "New Free Trade Agreements Will Improve California Farm Export Prospects." ARE Update 15(2)(2011):1-4. University of California Giannini Foundation of Agricultural Economics.
http://giannini.ucop.edu/publications/are-update/issues/2011/15/2/new-free-trade-agreements/