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Press Release

Ford of Canada Opposes Canada-South Korea Trade Agreement

Canada NewsWire

The following statement is attributable to Dianne Craig, president and CEO, Ford Motor Company of Canada, Ltd.:

OAKVILLE, ON, March 11, 2014 /CNW/ - As a global company committed to free trade, Ford supports well-negotiated agreements that open new markets for vehicles produced in Canada.  For this reason, we cannot support the Canada-South Korea free trade agreement.

We believe that South Korea will remain one of the most closed automotive markets in the world under the deal negotiated by the Canadian government.

Over the last two years, both the United States and European Union free trade agreements with South Korea have failed to reverse this one-sided automotive trade flow because the South Korean government continues its long history of maintaining a closed market through non-tariff trade barriers and actively intervening in its currency to unfairly subsidize its exports and protect its home market.

In fact, since the U.S. signed its trade agreement with South Korea, the U.S. trade deficit has worsened by more than 50 per cent and the volume of U.S. goods exported to South Korea - not just autos but all exports - has dropped by nearly $2 Billion.

Ford has proven that it can compete and win in the global marketplace when there is a level playing field. In fact, Ford's Oakville Assembly plant in Ontario ships to more than 50 countries today. But no Canadian manufacturer can compete with a market controlled by non-tariff barriers and currency manipulation. The trade agreement negotiated by the Canadian government with South Korea fails to address these issues.

SOURCE Ford of Canada

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