ND Expert: U.S. trade deal with S. Korea would benefit both countries | News | Notre Dame News | University of Notre Dame Skip To Content Skip To Navigation Skip To Search University of Notre Dame Notre Dame News Experts ND in the News Subscribe About Us Home Contact Search Menu Home › News › ND Expert: U.S. trade deal with S. Korea would benefit both countries ND Expert: U.S. trade deal with S. Korea would benefit both countries Published: November 11, 2010 Author: Shannon Roddel Unable to strike a trade agreement, President Obama and South Korean President Lee Myung Bak ordered negotiators back to work today to try and resolve disputes about new rules for cars and beef, and Jeffrey Bergstrand, finance professor at the University of Notre Dame, says a new deal would substantively benefit both countries. “The U.S. currently has an $8 billion trade deficit with South Korea, likely due to an undervaluation of its currency,” Bergstrand says. “An agreement likely would lead to more dialogue and pressure South Korea to let its currency float more. South Korea exports $38 billion to the U.S., and we export about $30 billion to them.” Bergstrand’s research shows that the typical free trade agreement between two countries boosts both countries’ trade by about 100 percent over 10 years time from implementation. Moreover, the jobs created in the U.S. by more exports tend to be higher-paying jobs for workers, leading ultimately to higher standards of living overall. “The proliferation of agreements throughout the world over the past 20 years is ongoing, and without fostering agreements with major trading partners such as South Korea, the U.S. could potentially be left behind the curve.” Bergstrand’s research on estimating the effects of free trade agreements on nations’ trade was recognized as one of the top 20 most-cited papers published in the Journal of International Economics 2005-2009. One of the world’s foremost experts in international trade, Bergstrand has been a finance professor in Notre Dame’s Mendoza College of Business for more than 20 years and a research associate of CESifo, an international network of researchers based in Europe. His research on international trade flows, free trade agreements, foreign direct investment, multinational firms and exchange rates has been published in more than 50 articles in such journals as the American Economic Review. Media advisory: Bergstrand’s remarks may be used in whole or in part. He is available for interviews and can be reached at 574-631-6761 or Bergstrand.1@nd.edu Posted In: International Research Home Experts ND in the News Subscribe About Us Related September 29, 2022 Notre Dame, Ukrainian Catholic University launch three new research grants September 27, 2022 Notre Dame, Trinity College Dublin engineers join to advance novel treatment for cystic fibrosis September 12, 2022 Can you tell me how to get to Sesame Street … in different countries? June 01, 2022 University of Notre Dame to establish consortium of Catholic universities to study Muslim-Christian relations May 03, 2022 Pulte Institute launches Central America Research Alliance For the Media Contact Office of Public Affairs and Communications Notre Dame News 500 Grace Hall Notre Dame, IN 46556 USA Facebook Twitter Instagram YouTube Pinterest © 2022 University of Notre Dame Search Mobile App News Events Visit Accessibility Facebook Twitter Instagram YouTube LinkedIn