In addition, portions of the U.S. industry are very concerned that an FTA could significantly harm existing U.S. business and trade flows, particularly from the CAFTA, NAFTA and ANDEAN regions.
The Korean Federation of Industries confirmed these suspicions when it concluded that it expects Korean textile exports to increase by 25% or $400 million during the first year of the agreement.
The Congressional Research Service cites an ITC study delivered to USTR before the negotiations began which concurred that Korean textile producers, not U.S. producers, are expected to be big winners if this agreement is enacted into law.
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National Council of Textile Organizations
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