1. U.S.-Korea Economic Relations and the Next U.S. Administration
- Author:
- Troy Stangarone
- Publication Date:
- 04-2016
- Content Type:
- Journal Article
- Journal:
- International Journal of Korean Studies
- Institution:
- International Council on Korean Studies
- Abstract:
- When the next United States president is inaugurated on January 20, 2017, he or she may face one of the more challenging domestic political environments for international trade in the modern political era; at that time, the U.S. will need to make significant decisions regarding its economic relationship with East Asia, including South Korea. The most significant decision facing the next administration will be handling the Trans-Pacific Partnership (TPP). While there is still time for the U.S. Congress to pass the TPP prior to the next administration taking office, it is increasingly likely that the next administration will have to grapple with either passing or renegotiating the Asia-Pacific-wide agreement, as well as determining how to bring South Korea into the region wide agreement. Bringing Korea into the TPP will further solidify the U.S.’ economic relationship with South Korea, enhancing efforts to move toward a free trade area within the Asia-Pacific. While South Korea’s accession to the TPP will likely be the next administration’s major economic objective, they should also work to strengthen the economic relationship with South Korea by deepening cooperation on small and medium sized enterprises (SMEs), cyber security, the digital economy, energy, and New Frontier issues.
- Topic:
- Energy Policy, Politics, Partnerships, Digital Economy, Trans-Pacific Partnership, Trade, and Economic Cooperation
- Political Geography:
- East Asia, South Korea, and United States of America