BILL NUMBER: SJR 4	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Harman

                        APRIL 4, 2011

   Relative to the United States - Korea Free Trade Agreement.


	LEGISLATIVE COUNSEL'S DIGEST


   SJR 4, as introduced, Harman. United States - Korea Free Trade
Agreement.
   This measure would memorialize the Congress of the United States
to approve and enact the United States - Korea Free Trade Agreement.

   Fiscal committee: no.



   WHEREAS, The Republic of Korea is the 15th largest economy in the
world; and
   WHEREAS, The Republic of Korea is the seventh largest trading
partner of the United States, the fifth largest market for United
States agricultural goods, the second largest market for United
States services in Asia, and the 10th largest market for United
States information and technology products; and
   WHEREAS, In 2010, two-way trade between Korea and the United
States totaled over $87.7 billion; and
   WHEREAS, In 2010, Korea was California's fifth largest export
market for goods, with exports totaling over $8 billion; and
   WHEREAS, On June 30, 2007, the United States and the Republic of
Korea signed the United States - Korea Free Trade Agreement; and
   WHEREAS, Under the United States - Korea Free Trade Agreement,
over 95 percent of bilateral trade in consumer and industrial
products would become duty free within three years, and most
remaining tariffs would be eliminated within 10 years according to
the United States Trade Representative; and
   WHEREAS, For agricultural products, the United States - Korea Free
Trade Agreement would immediately eliminate or phase out tariffs and
quotas on a broad range of products, with almost two-thirds, by
value, of Korea's agriculture imports from the United States becoming
duty free immediately; and
   WHEREAS, For services, the United States - Korea Free Trade
Agreement would provide meaningful market access commitments that
extend across virtually all major service sectors, including greater
and more secure access for international delivery services and the
opening up of the Korean market for foreign legal consulting
services; and
   WHEREAS, In the area of financial services, the United States -
Korea Free Trade Agreement would increase access to the Korean market
and ensure greater transparency and fair treatment for United States
suppliers of financial services; and
   WHEREAS, In the area of nontariff barriers, the United States -
Korea Free Trade Agreement would address a wide range of sectors and
advance United States interests and due process on competition
policy, labor and environment, and transparency; and
   WHEREAS, The United States - Korea Free Trade Agreement would
provide United States suppliers with greater access to the Korean
government procurement market; and
   WHEREAS, As a result of the aforementioned and other benefits
associated with the implementation of the United States - Korea Free
Trade Agreement, the United States International Trade Commission
(USITC) has concluded that the United States gross domestic product
would increase by $10 billion to $12 billion annually; and
   WHEREAS, The USITC estimated that the United States - Korea Free
Trade Agreement would increase United States exports to Korea by $11
billion annually; and
   WHEREAS, The United States Department of Commerce estimates that
the United States - Korea Free Trade Agreement would create 70,000
new jobs and failure to enact the agreement would lead to the loss of
over 350,000 jobs due to bilateral trade agreements enacted with
Korea by Canada and the European Union; and
   WHEREAS, China's trade with the Republic of Korea has been
expanding rapidly, necessitating a response from the United States to
avoid being left behind; and
   WHEREAS, With the implementation of the United States - Korea Free
Trade Agreement, United States exports to Korea are expected to
increase significantly in the export of agricultural products,
machinery, electronics, transportation equipment, and other sectors;
and
   WHEREAS, Under the United States - Korea Free Trade Agreement,
California's exports of nearly $2 billion in computer and electronic
products would become more competitive and affordable with the
immediate removal of related tariffs; and
   WHEREAS, According to the United States Food and Agriculture
Department, under the United States - Korea Free Trade Agreement,
Korean duties on major California agricultural products, including
almonds, pistachios, frozen orange juice, wine, and raisins would be
eliminated immediately; and
   WHEREAS, Under the United States - Korea Free Trade Agreement,
California companies would receive strengthened protections in Korea
for intellectual property, including software, music, film, videos,
and text; and
   WHEREAS, The United States - Korea Free Trade Agreement would help
to solidify the two countries' long-standing geostrategic alliance;
now, therefore, be it
   Resolved by the Senate and the Assembly of the State of
California, jointly, That the Legislature, in recognizing the
importance of reducing trade barriers between the United States and
the Republic of Korea in order to increase exports, create jobs,
stimulate the economy, and improve bilateral relations, respectfully
memorializes the Congress of the United States to approve and enact
the United States - Korea Free Trade Agreement; and be it further
   Resolved, That the Secretary of the Senate transmit copies of this
resolution to the President and Vice President of the United States,
to the Speaker of the House of Representatives, to each Senator and
Representative from California in the Congress of the United States,
and to the author for appropriate distribution.