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Key Votes

HR 3080 - Free Trade Agreement with Korea - Key Vote

National Key Votes

Ron Paul Did Not Vote on this Legislation.

Read statements Ron Paul made in this general time period.

Stages

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Issues

Stage Details

Legislation - Signed (Executive) - Became Public Law No. 112-41 -

Title: Free Trade Agreement with Korea

Legislation - Bill Passed (Senate) (83-15) - (Key vote)

Title: Free Trade Agreement with Korea

Vote Smart's Synopsis:

Vote to pass a bill that approves and implements the free trade agreement between the United States and the Republic of Korea.

Highlights:
  • Establishes preferential tariff treatment for originating goods (Sec. 202).
  • Defines "preferential tariff treatment" as the customs duty rate for an originating good (Sec. 202).
  • Defines an "originating good" as a good that (Sec. 202):
    • Is wholly obtained in Korea, the United States, or both nations;
    • Is produced entirely in Korea, the United States, or both nations exclusively from originating materials; or
    • Consists of originating and non-originating materials, and any non-originating materials used to make the good have undergone a regional value content calculation and subsequent change in tariff classification.
  • Prohibits the assessment of customs fees on originating goods (Sec. 203).
  • Specifies that the tariff on passenger cars imported from Korea shall be 2.5 percent for years 1 through 4 of this agreement, and duty free for each year thereafter (Sec. 201).
  • Specifies that the tariff on electric cars imported from Korea shall be as follows (Sec. 201):
    • 2 percent for year 1 of the agreement;
    • 1.5 percent for year 2 of the agreement;
    • 1 percent for year 3 of the agreement;
    • 0.5 percent for year 4 of the agreement; and
    • Duty free for each year thereafter.
  • Requires the President to examine the effect of increased imports on domestic industry including, but not limited to, changes in exports, wages, market share, domestic prices, and profits when making a determination regarding import relief (Sec. 332).
  • Authorizes the President to exclude Korean imports that are a "substantial cause" of "serious injury or threat" (Sec. 341).
  • This act is effective January 1, 2012 (Sec. 101).
Legislation - Bill Passed (House) (278-151) - (Key vote)

Title: Free Trade Agreement with Korea

Vote Smart's Synopsis:

Vote to pass a bill that approves and implements the free trade agreement between the United States and the Republic of Korea.

Highlights:
  • Establishes preferential tariff treatment for originating goods (Sec. 202).
  • Defines "preferential tariff treatment" as the customs duty rate for an originating good (Sec. 202).
  • Defines an "originating good" as a good that (Sec. 202):
    • Is wholly obtained in Korea, the United States, or both nations;
    • Is produced entirely in Korea, the United States, or both nations exclusively from originating materials; or
    • Consists of originating and non-originating materials, and any non-originating materials used to make the good have undergone a regional value content calculation and subsequent change in tariff classification.
  • Prohibits the assessment of customs fees on originating goods (Sec. 203).
  • Specifies that the tariff on passenger cars imported from Korea shall be 2.5 percent for years 1 through 4 of this agreement, and duty free for each year thereafter (Sec. 201).
  • Specifies that the tariff on electric cars imported from Korea shall be as follows (Sec. 201):
    • 2 percent for year 1 of the agreement;
    • 1.5 percent for year 2 of the agreement;
    • 1 percent for year 3 of the agreement;
    • 0.5 percent for year 4 of the agreement; and
    • Duty free for each year thereafter.
  • Requires the President to examine the effect of increased imports on domestic industry including, but not limited to, changes in exports, wages, market share, domestic prices, and profits when making a determination regarding import relief (Sec. 332).
  • Authorizes the President to exclude Korean imports that are a "substantial cause" of "serious injury or threat" (Sec. 341).
  • This act is effective January 1, 2012 (Sec. 101).
Legislation - Introduced (House) -

Title: Free Trade Agreement with Korea

Sponsors

  • Eric I. Cantor (VA - R) (Out Of Office)

Co-sponsors

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