Statement by the President Announcing the US-Korea Trade Agreement

December 3, 2010

The White House

Office of the Press Secretary

For Immediate Release December 03, 2010

Statement by the President Announcing the US-Korea Trade Agreement

I am very pleased that the United States and South Korea have reached agreement on a landmark trade deal that is expected to increase annual exports of American goods by up to $11 billion and support at least 70,000 American jobs. Last month in Seoul I directed our negotiators to achieve the best deal for American workers and companies, and this agreement meets that test.

American manufacturers of cars and trucks will gain more access to the Korean market and a level playing field to take advantage of that access. We are strengthening our ability to create and defend manufacturing jobs in the United States; increasing exports of agricultural products for American farmers and ranchers; and opening Korea’s services market to American companies. High standards for the protection of worker’s rights and the environment make this a model for future trade agreements, which must be both free and fair.

Today’s agreement is an integral part of my Administration’s efforts to open foreign markets to U.S. goods and services, create jobs for American workers, farmers and businesses, and achieve our goal of doubling of U.S. exports over five years. It deepens the strong alliance between the United States and the Republic of Korea and reinforces American leadership in the Asia Pacific. I look forward to working with Congress and leaders in both parties to get this done and to ensure that America competes aggressively for the jobs and markets of the 21st century.

FACT SHEET: Overview of the U.S.-Korea Trade Agreement

FACT SHEET: Economic Value of the U.S.-Korea Trade Agreement

FACT SHEET: Increasing U.S. Auto Exports and Growing U.S. Jobs Through the U.S. Korea Trade Agreement