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Posts tagged: KORUS

Tracing a Path Out of a Costly Trade Dispute

The trade dispute was resolved after AMS helped the businesses produce paper work and take the South Korean officials on tours of orange juice processing plants. USDA Photo courtesy of Ken Hammond.

The trade dispute was resolved after AMS helped the businesses produce paper work and take the South Korean officials on tours of orange juice processing plants. USDA Photo courtesy of Ken Hammond.

When we shop for items like orange juice at the grocery store, we often take for granted what goes on behind the scenes before we can enjoy these quality foods. Our nation’s producers and processors do not take it for granted. These products represent their livelihood, and the ability to reach new customers—especially through the export market—is critical to their businesses’ success. Recently, the USDA’s Agricultural Marketing Service (AMS) helped four businesses from Florida avert a costly 54% tariff, enabling them to continue to export frozen concentrated orange juice duty free to South Korea.

The US – Korea Free Trade Agreement (KORUS FTA) exempts U.S. orange juice from a 54% tariff when exported to Korea. However, in March 2013 Korean officials questioned the domestic origin of orange juice exported from the Sunshine State to the East Asian country. Without proof that the juice came from the U.S., exporters faced the costly tariff and the volume of exports to South Korea decreased. It was a huge loss for the Florida citrus industry which creates 76,000 jobs and pumps $9 billion into its local economy. Read more »

New Website Showcases the Opportunities of U.S.-Korea FTA

The USDA Agricultural Trade Office (ATO) in Seoul recently launched a Web page to showcase potential opportunities to be created by the soon-to-be-implemented U.S.-Korea Trade Agreement (KORUS). KORUS will take effect on March 15, 2012.

The Foreign Agricultural Service recommends that U.S. agricultural exporters and those interested in expanding sales to international markets visit the page, called What U.S. Exporters Need to Know about the KORUS Agreement, to learn about the agreement, understand new tariff schedules, and gain valuable information about the fifth-largest market for U.S. farm products. Read more »

U.S. Poultry Industry Promotions in Korea Draw Crowds, Drum up Interest in U.S. Chicken

In June, three new menu items using U.S. chicken legs were launched at ‘Fish and Grill,’ a fusion-style bar that boasts 450 locations throughout Korea.

In June, three new menu items using U.S. chicken legs were launched at ‘Fish and Grill,’ a fusion-style bar that boasts 450 locations throughout Korea.

Through a variety of promotional activities in Korea, the U.S.A. Poultry and Egg Export Council (USAPEEC) is showcasing the quality and value of U.S. poultry products and promoting the benefits of implementation of the Korea-U.S. Trade Agreement (KORUS). Read more »

U.S. Foods and Beverages Attract Crowds at Korea Trade Show as United States Pushes U.S.-Korea Trade Agreements

Approximately 40 U.S. food companies from every region of the United States set up shop last week at the annual Seoul Food and Hotel 2011 Trade Show, the largest food show in Korea. This year, excitement in the U.S. pavilion was particularly high as the United States recently concluded negotiations with South Korea on the pending U.S.-Korea trade agreement (KORUS), which will provide American agriculture with improved access to Korea’s $1 trillion economy.

The United States is already Korea’s top supplier of a broad variety of food and farm products. U.S. agriculture, fish and forestry exports to Korea totaled $5.8 billion in 2010, making Korea the fifth largest export market for U.S. farm products. Under the KORUS, American products will become significantly more affordable for Korea’s 49 million consumers, since the trade agreement will eliminate most of Korea’s tariffs (taxes on imports). Read more »

Sharing the Benefits of KORUS in North Carolina

This week, I traveled to North Carolina and partnered with Korean Ambassador Han Duk-soo, the U.S. Chamber of Commerce and others in support of the U.S.-Korea Trade Agreement or KORUS.

The Obama Administration recognizes that exports are vital to the health of the agricultural sector and our nation’s economy as a whole. That’s why we’re working hard to ensure passage of the KORUS agreement, as well as the pending free trade agreements with Colombia and Panama. Read more »

Agriculture Secretary Vilsack Highlights Trade During Visit to St. Louis

L to R-- Mike Baroni, vice president of economic policy, Archer Daniels Midland Company; Dr. Jon Hagler, director, Missouri Department of Agriculture; Secretary Vilsack; Senator Claire McCaskill; Jim Fisher, pork producer, Fisher Farms

L to R-- Mike Baroni, vice president of economic policy, Archer Daniels Midland Company; Dr. Jon Hagler, director, Missouri Department of Agriculture; Secretary Vilsack; Senator Claire McCaskill; Jim Fisher, pork producer, Fisher Farms

Agriculture Secretary Tom Vilsack spent part of last week in St. Louis, Mo., making several stops to promote trade and agriculture and to announce the opening of a new office in St. Louis for the USDA National Agricultural Statistics Service. Read more »