{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Econ Commentary - Commentary#3 Title U.S South Korea Strike...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Commentary #3 Title : U.S., South Korea Strike Largest Free Trade Deal Since NAFTA Source : Fox News Word Count : 748
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
The United States and South Korea have been dedicated through trade (the exchange of one item for another) for many years. In fact, the relationship the countries have with one another has helped diplomacy in Asia as a whole. To further their economic interests, the United States and South Korea have agreed to a free trade (a situation in which there are no artificial barriers to trade) agreement. Currently, more than $75 billion are exchanged from trade per year. The new U.S., South Korea free trade agreement will eliminate barriers to trade; such as tariffs (a tax on trade), quotas (a government-imposed restriction on quantity), Voluntary Export Restraints (a restriction set by a government on the quantity of goods that can be exported out of a country during a specified period of time), amongst others. With the elimination of these disturbances of trade, imports and exports (goods that are either brought in [import] or shipped to [export] other countries) will flow freely. Additionally, the agreement will guarantee that neither nation ever succumbs to a state of autarky (the
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern