An FTA that makes economic and political sense
Most of the free-trade agreements put forward by the Bush administration over the past five years have made a lot of foreign policy sense, but have been pretty marginal in terms of their economic impact. Last week, however, the U.S. and South Korea announced that they intended to negotiate an FTA over the course of ...
Most of the free-trade agreements put forward by the Bush administration over the past five years have made a lot of foreign policy sense, but have been pretty marginal in terms of their economic impact. Last week, however, the U.S. and South Korea announced that they intended to negotiate an FTA over the course of this year. USTR representative Rob Portman said, "This is the most commercially significant free trade negotiation we have embarked on in 15 years," and he's not lying -- you'd have to go back to the start of NAFTA for an FTA that would have as big an economic impact. Kudos to Portman for finally taking up the ROK's offer to negotiate. I'm also intrigued whether this was timed to prod the EU, India, and Brazil into moving forward on Doha.
Most of the free-trade agreements put forward by the Bush administration over the past five years have made a lot of foreign policy sense, but have been pretty marginal in terms of their economic impact. Last week, however, the U.S. and South Korea announced that they intended to negotiate an FTA over the course of this year. USTR representative Rob Portman said, “This is the most commercially significant free trade negotiation we have embarked on in 15 years,” and he’s not lying — you’d have to go back to the start of NAFTA for an FTA that would have as big an economic impact. Kudos to Portman for finally taking up the ROK’s offer to negotiate. I’m also intrigued whether this was timed to prod the EU, India, and Brazil into moving forward on Doha.
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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