This report discusses the free trade agreement (FTA) between South Korea and the European Union (EU). It looks at various aspects of the South Korea-EU FTA (KOREU FTA) including economic ties, trade strategies, and an overview of the key provisions of the agreement focusing on manufactured goods, agriculture, services, and various other provisions of particular interest to U.S. policymakers and the U.S. business community. The report also gives an analysis of the potential economic imact of the KOREU FTA and potential implications of the agreement for the United States.
According to the most recent National Threat Assessment, the global financial crisis and its geopolitical implications pose the primary near-term security concern of the United States. Over the short run, both the EU and the United States are attempting to resolve the financial crisis while stimulating domestic demand to stem the economic downturn. These efforts have born little progress so far as the economic recession and the financial crisis have become reinforcing events, causing EU governments to forge policy responses to both crises. This report discusses this situation in detail and also discusses individual efforts by both the U.S. and EU to combat the effects of the crisis.
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