Photo: Yonhap News
U.S. Trade Representative Katherine Tai said on Tuesday that the United States wants to increase exports of automobiles and agricultural products to South Korea.
Tai made the remarks at an event hosted by U.S. and South Korean business organizations to celebrate the tenth anniversary of the enactment of the U.S.-Korea free trade agreement.
At the event in Washington, the US trade chief said that over the past decade, US exports of goods and services to South Korea have grown by more than 17% to nearly $70 billion. of dollars.
Tai said U.S. auto exports to South Korea have increased, making it the fifth-largest market for U.S.-made vehicles, but there are still opportunities to expand auto export opportunities.
She underscored the need to strengthen government-to-government cooperation to overcome obstacles that undermine opportunities.
Tai also said U.S. agricultural imports have grown 35% over the past decade as South Korea has become the top destination for U.S. beef exports.
She continued that despite the success, there is still room to develop the market in South Korea for U.S. agricultural products, including creating a regulatory environment that facilitates access to agricultural biotechnology.