Washington, D.C. - Today, U.S. Rep. Rick Larsen (WA-02) released the following statement after the USTR announced the start of Free Trade Agreement discussions with South Korea:

“I applaud the administration’s decision to begin negotiations on a Free Trade Agreement between the U.S. and South Korea.  South Korea represents a vital and important market for U.S. goods and services – ranking as the 7th largest trading partner with the U.S., with over $26 billion in exports last year.

“These discussions send a strong message to South Korea that we recognize its presence as a worldwide economic leader.  With the 10th largest economy they are a fast growing and thriving market.

“South Korea is a particularly important market for Washington state -ranking as the 5th largest export market behind Japan, Canada, China and Taiwan.

“A free trade agreement between the U.S. and South Korea will level the playing field for many U.S. and Washington state products. 

"A strong U.S.-South Korea trade relationship will further promote opportunities for companies like Boeing - with the aerospace industry currently accounting for half of all Washington State exports to South Korea"

"This relationship should provide opportunities for small and medium-sized businesses to benefit from increased market access across all sectors.

“Washington state farmers and ranchers will particularly benefit from this access.  Currently, many of our agriculture exports are saddled with high tariffs – some running as high as 50%.  Free trade with South Korea will liberalize these tariffs.  

Larsen represents Washington’s 2nd Congressional District and is the only member from the state serving on the House Agriculture Committee.

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