The American Feed Industry Association is pleased that the Free Trade Agreement (FTA) with South Korea entered into force on March 15. AFIA is looking forward to seeing the immediate benefits the FTA will bring to the U.S. economy.
The agreement with Korea presents the largest opportunity, where the U.S. is seeking to improve its fourth place standing behind China, EU and Japan. This occasion marks the start date for the first phase of tariff cuts. Agricultural equipment, as well as an estimated two-thirds of U.S. exports of agricultural products to Korea are now duty-free.
The USDA Agricultural Trade Office in Seoul, South Korea has launched a website with details of the FTA for U.S. exporters, including information to help exporters determine the new tariffs for agricultural products.