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Professors Kadee Russ and Deborah Swenson weigh in on the US-Korea free trade agreement

Department of economics professors Kadee Russ and Deborah Swenson, along with Kelly Stangl, have published an article at Econofact on the economics of the US-Korea free trade agreement. Below is a summary of what they find:

Even though the overall U.S. trade deficit in goods with South Korea has grown since the implementation of the U.S.-Korea Free Trade Agreement, this does not mean it represents unfair trade. The U.S. bilateral balance improved for many traded goods categories and, in some cases, led to the replacement of imports from other sources for cheaper Korean imports. Given the challenging macro environment for U.S. exports in South Korea since KORUS went into effect, this is a clear win for the hundreds of thousands of workers involved in producing U.S. exports to South Korea.

The full article can be found here: