SALT LAKE CITY - Senate Finance Committee Chairman Orrin Hatch (R-Utah) today released the following statement about the U.S.-Korea trade agreement (KORUS):
“Since KORUS went into force more than five years ago, it became clear that Korea needed to do more to fully implement the agreement in order to remove trade and investment barriers for American exporters. The agreement in principle announced today makes steps toward improved implementation and maintains the strong economic ties between our two nations. As we move forward, it is imperative that the administration continue to monitor Korea's compliance with the agreement so that it fully benefits American manufacturers, service providers, farmers and ranchers."
Background: As one of the chief architects of the 2015 TPA law, Hatch fought to secure provisions that would strengthen the role of Congress and require proper consultation between the legislative and executive branches during trade negotiations. A longtime advocate of breaking down trade barriers, Hatch has supported initiatives to enhance America’s competitiveness and increase access to international markets, having worked to successfully navigate several trade agreements through Congress, including agreements with South Korea, Colombia, Panama, Central America and the Dominican Republic (CAFTA), among others.
Source: Ranking Member’s News
