Lowering barriers to trade almost inevitably and invariably works to the benefit of all nations involved, increasing trade and growing jobs. The new trade agreement with Korea will lower tariffs by 80 percent.

From the news story:

The free-trade agreement between the U.S. and South Korea took effect today as an opposition party in Seoul vowed to repeal the deal should it win control of the parliament in elections next month.

The biggest U.S. trade accord in almost two decades will cut about 80 percent of tariffs between the nations. The deal may increase U.S. exports as much as $10.9 billion in the first year it’s in full effect, according to the U.S. International Trade Commission. It may also help South Korea’s economy expand by 5.7 percent within a decade and create 350,000 jobs, Trade Minister Bark Tae Ho said yesterday.

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