US Chamber Chief: Overturning FTA with S. Korea Would Only Benefit Foreign Competitors

Write : 2018-01-11 10:58:57 Update : 2018-01-11 11:04:24

US Chamber Chief: Overturning FTA with S. Korea Would Only Benefit Foreign Competitors

U.S. Chamber of Commerce President and CEO Thomas Donohue says invalidating the South Korea-U.S. free trade agreement(FTA) would only benefit foreign competitors. 

Donohue made the remark on Wednesday at the 2018 State of American Business press conference in Washington.

Underlining the importance of trade for the U.S. economy to strengthen and continue growing, Donohue said that overturning the trade deal with South Korea would hurt American farmers and manufacturers and only benefit the U.S.’ foreign competitors.

He also said that the chamber agrees that in some areas the Koreans need to do more to faithfully implement the deal. 

Donohue, who heads the chamber that represents more than 300 businesses, has made it clear that he’s opposed to scrapping the South Korea-U.S. FTA, saying discarding the deal would be reckless and irresponsible. 

Also at the press conference, Donohue warned that the U.S. would be making a “grave mistake” if it withdraws from the North American Free Trade Agreement.

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