This report is designed to shed some light on the KOREU FTA for Congress.4 It briefly reviews EU-South Korean economic ties and the respective EU and South Korean objectives regarding the KOREU FTA. It then discusses the KOREU FTA in general and examines some of its major provisions in more detail, with special focus on autos and some other manufacturing sectors, agriculture, services, and labor-areas of particular interest to U.S. policymakers and the U.S. business community. The report does not attempt to determine if one FTA is better than the other. Finally, the report analyzes the prospects for the KOREU FTA and the agreement's potential implications for the United States.
Overall, there are two sets of questions for Congress in examining U.S. policy toward the fate of the EU’s arms embargo on China. What are the implications for U.S. interests in trans-Atlantic relations and China? If U.S. interests are adversely affected, what are some options for Congress to discourage the EU from lifting its arms embargo on China and, if it is lifted, to protect U.S. national security interests in both Asia and Europe? Issues raised by these questions are the subject of this CRS Report.
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