South Korea, in a deal struck with the Trump administration last November, agreed to buy at least 132,304 metric tons of U.S. rice annually and the country is getting close to meeting that promise for 2020, according to U.S. government and industry officials.
President Donald Trump and South Korea President Moon Jae-in today signed off on the renegotiated United States–Korea Free Trade Agreement (KORUS), putting an end to concerns from the U.S. farm sector about possibly losing the six-year old pact that has spurred American agricultural exports.
When it comes to forging trade alliances around the globe, the European Union is moving at seemingly breakneck speed. The 28-country bloc is securing new and expanded markets in Asia, South America and North America at a time when the U.S. seems to be in neutral or even reverse.
U.S. and South Korean negotiators met all day last Friday in an effort to save the free trade agreement that unites the two countries. On the sidelines, the U.S. agriculture sector is desperately hoping the negotiators succeed so farmers and ranchers here can continue shipping more and more meat and grain to the Asian country.
WASHINGTON, Sept. 20, 2017 – The popular mantra from much of the ag sector as negotiators overhaul the North American Free Trade Agreement is "do no harm," but the very act of renegotiating the massive three-country trade pact may be already costing pork, beef, corn, soybean and wheat exporters in lost opportunity.
WASHINGTON, Sept. 13, 2017 - The U.S.-Korea free trade agreement, known commonly as KORUS, has been a target of criticism from the White House for months, but the fact that the two countries are still talking about how to improve the pact has the U.S. ag community hoping it will survive.