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Economic impacts of a Korea-U.S. Free Trade Agreement

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International Economist Robert Scott who recently published research warning that a new free trade agreement between the United States and South Korea could be damaging to the U.S. economy, presented his findings at a House of Representatives staff briefing sponsored by Rep. Michael Michaud (D, Maine), chair of the House Trade Working Group. Although official estimates from the U.S. InternatiJuly 8 onal Trade Commission (USITC) project a “minimal or negligible” impact on jobs in the U.S., Scott noted that the USITC has a history of underestimating the harm of free trade agreements on the U.S. economy. His presentation reviewed the official forecasts of a free trade agreement with China and showed that the actual impact of China entering the World Trade Organization in 2001 has been far more damaging than predicted.

Scott’s presentation: Economic impacts of a Korea-U.S. Free Trade Agreement