It will be interesting to see if the KORUS FTA does pass next month:
The government has welcomed the news that Washington laid a path to deal with the overdue ratification of the free trade deal with South Korea in September.
The South Korean Ministry of Foreign Affairs and Trade spokesman said Thursday that although the U.S.’s plan does not meet the South Korean government’s expectation to have the bill passed before the August recess, Seoul hopes the deal will pass when the U.S. Congress reconvenes in September.
Senate Democratic leader Harry Reid and his Republican counterpart Mitch McConnell announced Wednesday a compromise to renew funding for the Trade Adjustment Assistance (TAA) program and a plan to review bills to ratify the trade pacts when Congress reopens in September.
U.S. Trade Representative Ron Kirk also pledged to cooperate with Congress leaders to pass the trade deal in September. [KBS Global]