Do U.S. agriculture suppliers benefit from South Korea- U.S. Free Trade Agreement – the case of orange juice | Zendy

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Do U.S. agriculture suppliers benefit from South Korea- U.S. Free Trade Agreement – the case of orange juice

Author(s) -

Yan Heng,

Lisa House

Publication year - 2018

Publication title -

the international food and agribusiness management review

Language(s) - English

Resource type - Journals

eISSN - 1559-2448

pISSN - 1096-7508

DOI - 10.22434/ifamr2017.0081

Subject(s) - free trade agreement , orange juice , international trade , agriculture , economics , welfare , agricultural economics , international economics , free trade , business , geography , market economy , chemistry , food science , archaeology

This paper investigates the effect of the South Korea-U.S. Free Trade Agreement (KORUS-FTA) on U.S. competition with other suppliers for the import/export of orange juice. We use monthly trade data for 2007- 2015 to estimate the import demand from the United States, Brazil, Israel, and the rest of the world. Our results suggest that U.S. suppliers have surpassed Brazil and dominate the market. Moreover, we show that thanks to the KORUS-FTA, U.S. suppliers have gained significant welfare and trade value, which is particularly important for industries suffering from a shrinking domestic market.

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