A group of U.S. lawmakers says that if the South Korea-European Union free trade agreement takes effect, U.S. exports to Korea will fall by one-point-one billion U.S. dollars.

The Korea International Trade Association’s Washington branch says Republican members of the congressional budget committee, including Congressman Kevin Brady, made the forecast late last month. They said that if the EU and Canada sign FTAs with Korea and Columbia, it could inflict serious losses to U.S. exports.

According to the lawmakers, the agreements would have the biggest detrimental effect on U.S. industries related to machinery and equipment, chemistry, rubber, plastics and food.

The lawmakers also submitted to the U.S. Trade Representative a letter of opinion urging the ratification of the Korea-U.S. FTA.

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