[Federal Register Volume 66, Number 12 (Thursday, January 18, 2001)]
[Notices]
[Pages 4859-4860]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-1489]


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INTERNATIONAL TRADE COMMISSION

[Investigation 332-425]


U.S.-Korea FTA: The Economic Impact of Establishing a Free Trade 
Agreement (FTA) Between the United States and the Republic of Korea

AGENCY: United States International Trade Commission.

ACTION: Institution of investigation and scheduling of public hearing.

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EFFECTIVE DATE: January 9, 2001.
SUMMARY: Following receipt of a request on December 18, 2000, from the 
Senate Committee on Finance (Committee), the Commission instituted 
investigation No. 332-425, U.S.-Korea FTA: The Economic Impact of 
Establishing a Free Trade Agreement (FTA) Between the United States and 
the Republic of Korea, under section 332(g) of the Tariff Act of 1930 
(19 U.S.C. 1332(g)). The Commission plans to submit its report by 
September 18, 2001.
    As requested by the Committee, in its report the Commission will 
provide to the extent possible:
     An overview of the Korean economy
     An overview of the current economic relationship between 
the United States and the Republic of Korea, including a discussion of 
the important industry sectors in both countries
     An inventory and analysis of the main barriers (tariff and 
nontariff) to trade between the United States and the Republic of Korea
     To the extent data are available, the estimated effects of 
eliminating all quantifiable trade barriers (tariff and nontariff), 
with special attention to agricultural goods, on:
     The volume of trade in goods and services between the two 
countries
     Sectoral output and gross domestic product for each 
country
     Wages and employment across industry sectors for each 
country
     Final prices paid by consumers in each country
     A qualitative assessment of the effects of removing 
nonquantifiable trade barriers

FOR FURTHER INFORMATION CONTACT: Information may be obtained from 
Christine McDaniel, Project Leader (TEL: 202-708-5404; EMAIL: 
[email protected]), Office of Economics, or Alan Fox, Deputy Project 
Leader (TEL: 202-205-3267; EMAIL: [email protected]), Office of Economics, 
U.S. International Trade Commission, Washington, DC, 20436. For 
information on the legal aspects, contact William

[[Page 4860]]

Gearhart (TEL: 202-205-3091; EMAIL: [email protected]), Office of 
the General Counsel. Hearing impaired individuals are advised that 
information on this matter can be obtained by contacting the TDD 
terminal on (202) 205-1810.
    Background: In its letter to the Commission, the Committee stated 
that a number of the United States' trading partners have aggressively 
pursued free trade area negotiations that may segment markets to the 
commercial disadvantage of the United States. The Committee indicated 
that over the course of the next several months it expects to ask the 
Commission for a series of investigations under section 332 related to 
the economic impact of negotiating bilaterally or regionally with 
particular trading partners in the absence of a new round of 
multilateral talks.
    Public Hearing: A public hearing in connection with the 
investigation will be held at the U.S. International Trade Commission 
Building, 500 E Street SW, Washington, DC, beginning at 9:30 a.m. on 
May 17, 2001. All persons shall have the right to appear, by counsel or 
in person, to present information and to be heard. Requests to appear 
at the public hearing should be filed with the Secretary, United States 
International Trade Commission, 500 E Street SW, Washington, DC 20436, 
no later than 5:15 p.m., April 27, 2001. Any prehearing briefs 
(original and 14 copies) should be filed no later than 5:15 p.m., May 
4, 2001; the deadline for filing post-hearing briefs or statements is 
5:15 p.m., May 25, 2001. In the event that, as of the close of business 
on April 27, 2001, no witnesses are scheduled to appear at the hearing, 
the hearing will be canceled. Any person interested in attending the 
hearing as an observer or nonparticipant may call the Secretary of the 
Commission (202-205-1806) after April 27, 2001, to determine whether 
the hearing will be held.
    Written Submissions: In lieu of or in addition to participating in 
the hearing, interested parties are invited to submit written 
statements (original and 14 copies) concerning the matters to be 
addressed by the Commission in its report on this investigation. 
Commercial or financial information that a submitter desires the 
Commission to treat as confidential must be submitted on separate 
sheets of paper, each clearly marked ``Confidential Business 
Information'' at the top. All submissions requesting confidential 
treatment must conform with the requirements of section 201.6 of the 
Commission's Rules of Practice and Procedure (19 CFR 201.6). All 
written submissions, except for confidential business information, will 
be made available in the Office of the Secretary of the Commission for 
inspection by interested parties. To be assured of consideration by the 
Commission, written statements relating to the Commission's report 
should be submitted to the Commission at the earliest practical date 
and should be received no later than the close of business on May 25, 
2001. All submissions should be addressed to the Secretary, United 
States International Trade Commission, 500 E Street SW, Washington, DC 
20436. The Commission's rules do not authorize filing submissions with 
the Secretary by facsimile or electronic means.
    Persons with mobility impairments who will need special assistance 
in gaining access to the Commission should contact the Office of the 
Secretary at 202-205-2000. General information concerning the 
Commission may also be obtained by accessing its Internet server 
(http://www.usitc.gov).

List of Subjects

    Republic of Korea, Free Trade Agreement, Tariffs, and Imports.

    Issued: January 10, 2001.
    By order of the Commission.
Donna R. Koehnke,
Secretary.
[FR Doc. 01-1489 Filed 1-17-01; 8:45 am]
BILLING CODE 7020-02-P