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U.S. Chamber Urges Swift Action to Complete Pending Korea-U.S. Free Trade Agreement

Wednesday, November 10, 2010 - 7:00pm

‘Time Is of the Essence. Jobs Are on the Line,’ Donohue Says

SEOUL, SOUTH KOREA—The U.S. Chamber of Commerce’s President and CEO Thomas J. Donohue issued the following statement today about the pending Korea-U.S. Free Trade Agreement (KORUS):

“We’re pleased that President Obama and President Lee have strongly reaffirmed their commitment to the Korea-U.S. Free Trade Agreement. We were disappointed that the discussions weren't concluded today, but we understand that progress was made and differences have been narrowed.

“We urge both presidents to direct their ministers and staff to resolve remaining details with the greatest possible speed and urgency.

“Time is of the essence. American jobs are on the line. Since South Korea will soon implement a similar arrangement with the EU, American workers stand to lose 340,000 jobs without this agreement.

“The Chamber is ready to pull out all the stops to explain the benefits of this agreement to the American people and help move the pact through Congress. The sooner we get this deal done, the sooner it will start creating new American jobs.”

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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