U.S. Chamber Launches Grassroots Campaign to Highlight Benefits of Korea Free Trade Agreement

At Ports of Long Beach and Los Angeles, Business Leaders Point to Nearly 40,000 California Jobs at Risk if Congress Fails to Act

LOS ANGELES, CA—Today the U.S. Chamber of Commerce and Ambassador Han Duk-soo, Korean Ambassador to the United States, launched a nationwide, grassroots lobbying effort to promote the job-creating benefits of the Korea-U.S. Free Trade Agreement (KORUS FTA) by touring the Port of Los Angeles and the Port of Long Beach with political and business leaders from Southern California.

“If we’re going to meet the president’s goal of doubling U.S. exports in the next five years, Congress needs to act on this trade agreement,” said Tami Overby, vice president for Asia Affairs at the U.S. Chamber. “It’s time for Washington to act, in order to create jobs in these ports. Stalling any longer only puts us at a competitive disadvantage in Southern California and across the country.”

U.S. government data shows that KORUS will benefit the California economy and create new jobs. It will immediately open new access for California goods and services in Korea’s $1 trillion economy by eliminating Korean duties on major California agricultural products, such as almonds, pistachios,orange juice, wine, and raisins.

Korea has already successfully completed a free trade agreement with the European Union that is expected to be implemented July 1, 2011. Korea’s FTA negotiations with Canada are also in the advanced stages.

“By standing still on trade, we’re falling behind,” Overby said. “If the U.S.-Korea trade agreement is not implemented while our competitors move forward, Congress is forcing California’s workers, businesses, and farmers to cede the Korean market.”

A U.S. Chamber study warned that failing to act on the Korea FTA will cause California’s Gross Domestic Product (economic output) to drop by $5.2 billion. More startling, California will lose 39,620 jobs, while nationwide, the job loss will balloon to 345,017.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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