The United States and South Korea reached agreement on a bilateral trade deal that could increase trade between the two countries by 20 percent.The agreement, which must still be approved by the U.S. Congress and South Korea's National Assembly, was the result of 10 months of negotiations. Negotiators worked day and night over the last week to reach agreement.
The White House released a letter early Monday from President Bush officially notifying Congress that he intended to sign the agreement.
"The United States-Korea Free Trade Agreement will generate export opportunities for U.S. farmers, ranchers, manufacturers, and service suppliers, promote economic growth and the creation of better paying jobs in the United States, and help American consumers save money while offering them greater choices," President Bush wrote.
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