Free trade with South Korea means big money for American
pig producers, the Korean embassy’s trade specialist told reporters at the
World Pork Expo in Des Moines, Iowa, Thursday.
But failing to ratify the free trade agreement with South
Korea, which American and Korean negotiators signed three years ago, could have
“nightmarish” consequences for American farmers if other countries such as
Canada conclude deals and get into the market first.
“It is a big advantage for those who made agreements, and a
big disadvantage for those who don’t,” Jong Hyun Choi said in an interview
following a news conference.
American agricultural economist Dermot Hayes of Iowa State
University predicted the gains from free trade with South Korea would be $10
per head for American producers. South Korea currently imposes a 22 to 25
percent tariff on imported pork.
Manitoba Pork Council chair Karl Kynoch said the gains for
Canada would be greatest if it concludes its own free trade deal with Korea,
but the successful passing of the American-South Korean deal would also have
big benefits.
“One way or another, pork flowing out of North America to
Korea is going to put more money in Manitoba hog producers’ pockets,” Kynoch
said.
Free trade deals are now languishing before the U.S. Congress
because the recession has made free trade unpopular in many parts of American
society.
National Pork Producers Council trade specialist Nick Giordano
said he doesn’t believe it’s possible to pass the Korean agreement before the
November midterm American elections, but he thinks the pork industry needs to
begin pressuring politicians now to begin the process so that it eventually
succeeds.
Canada is trying to establish a free trade deal with South
Korea, but Choi said two items are preventing an agreement:
* South Korea is unwilling to give free access to Canadian
beef, which Canada demands.
* Canada is unwilling to give Korea free access to automobiles
and automobile parts, which South Korea demands.
The only country enjoying free trade with South Korea is
Chile, which has seen pork trade with South Korea “skyrocket,” Choi said.
“That is going to happen for U.S. pork producers (if the
deal passes),” he added.
Giordano said the United States risks falling behind
countries that are more eager to embrace free trade, such as what Canada is
doing with Colombia.
South Korea is a more significant market, he added, and if
other countries obtain access first, there might be little market left for
American producers.
Kynoch said he hopes both the U.S. and Canada establish
free trade with South Korea, because the gains would be large and continuing.
Free trade with South Korea means big money for American pig producers, the Korean embassy’s trade specialist told reporters at the World Pork Expo Thursday.
But failing to ratify the free trade agreement with South Korea, which American and Korean negotiators signed three years ago, could have “nightmarish” consequences for American farmers if other countries such as Canada conclude deals and get into the market first.
“It is a big advantage for those who made agreements, and a big disadvantage for those who don’t,” Jong Hyun Choi said in an interview following a news conference.
American agricultural economist Dermot Hayes of Iowa State University predicted the gains from free trade with South Korea would be $10 per head for American producers. South Korea currently imposes a 22 to 25 percent tariff on imported pork.
Manitoba Pork Council chair Karl Kynoch said the gains for Canada would be greatest if it concludes its own free trade deal with Korea, but the successful passing of the American-South Korean deal would also have big benefits.
“One way or another, pork flowing out of North America to Korea is going to put more money in Manitoba hog producers’ pockets,” Kynoch said.
Free trade deals are now languishing before the U.S. Congress because the recession has made free trade unpopular in many parts of American society.
National Pork Producers Council trade specialist Nick Giordano said he doesn’t believe it’s possible to pass the Korean agreement before the November midterm American elections, but he thinks the pork industry needs to begin pressuring politicians now to begin the process so that it eventually succeeds.
Canada is trying to establish a free trade deal with South Korea, but Choi said two items are preventing an agreement:
- South Korea is unwilling to give free access to Canadian beef, which Canada demands.
- Canada is unwilling to give Korea free access to automobiles and automobile parts, which South Korea demands.
The only country enjoying free trade with South Korea is Chile, which has seen pork trade with South Korea “skyrocket,” Choi said.
“That is going to happen for U.S. pork producers (if the deal passes),” he added.
Giordano said the United States risks falling behind countries that are more eager to embrace free trade, such as what Canada is doing with Colombia.
South Korea is a more significant market, he added, and if other countries obtain access first, there might be little market left for American producers.
Kynoch said he hopes both the U.S. and Canada establish free trade with South Korea, because the gains would be large and continuing.
DES MOINES, Iowa – Free trade with South Korea means big money for American pig producers, the Korean embassy’s trade specialist told reporters at the World Pork Expo Thursday.
But failing to ratify the free trade agreement with South Korea, which American and Korean negotiators signed three years ago, could have “nightmarish” consequences for American farmers if other countries such as Canada conclude deals and get into the market first.
“It is a big advantage for those who made agreements, and a big disadvantage for those who don’t,” Jong Hyun Choi said in an interview following a news conference.
American agricultural economist Dermot Hayes of Iowa State University predicted the gains from free trade with South Korea would be $10 per head for American producers. South Korea currently imposes a 22 to 25 percent tariff on imported pork.
Manitoba Pork Council chair Karl Kynoch said the gains for Canada would be greatest if it concludes its own free trade deal with Korea, but the successful passing of the American-South Korean deal would also have big benefits.
“One way or another, pork flowing out of North America to Korea is going to put more money in Manitoba hog producers’ pockets,” Kynoch said.
Free trade deals are now languishing before the U.S. Congress because the recession has made free trade unpopular in many parts of American society.
National Pork Producers Council trade specialist Nick Giordano said he doesn’t believe it’s possible to pass the Korean agreement before the November midterm American elections, but he thinks the pork industry needs to begin pressuring politicians now to begin the process so that it eventually succeeds.
Canada is trying to establish a free trade deal with South Korea, but Choi said two items are preventing an agreement:
- South Korea is unwilling to give free access to Canadian beef, which Canada demands.
- Canada is unwilling to give Korea free access to automobiles and automobile parts, which South Korea demands.
The only country enjoying free trade with South Korea is Chile, which has seen pork trade with South Korea “skyrocket,” Choi said.
“That is going to happen for U.S. pork producers (if the deal passes),” he added.
Giordano said the United States risks falling behind countries that are more eager to embrace free trade, such as what Canada is doing with Colombia.
South Korea is a more significant market, he added, and if other countries obtain access first, there might be little market left for American producers.
Kynoch said he hopes both the U.S. and Canada establish free trade with South Korea, because the gains would be large and continuing.
