South Korea trade deal produces bleak first-year results for U.S.

[unhappycamper]

http://www.mcclatchydc.com/2013/05/22/191960/south-korea-trade-deal-produces.html



More apples are being eaten by Koreans now

South Korea trade deal produces bleak first-year results for U.S.
By Rob Hotakainen | McClatchy Washington Bureau
Posted on Wednesday, May 22, 2013

WASHINGTON — More than a year after it took effect, a highly touted trade deal with South Korea has failed to produce as expected for the U.S.: Exports are down, imports are up and the trade deficit with the Asian economic powerhouse has ballooned.

In Washington state, where global trade is now linked to 2 of every 5 jobs, trade backers are happy: Exports of aircraft and parts to Korea rose by more than 75 percent last year, and Koreans are gobbling up more of the state’s prized cherries and apples.

But across the nation, the picture looks far bleaker.

Overall, U.S. exports to Korea from March 2012 to this February fell to $42 billion, a 6 percent decline from the previous one-year period, according to the Office of the U.S. Trade Representative. During the same time, Korean imports increased by 4 percent.