Mr. Speaker, as we all know, the Korea-U.S. free trade agreement is not as good, in fact, for the auto sector as the Canada-Korea free trade agreement. For example, the Canada-Korea free trade agreement would provide immediate duty-free access to South Korean auto markets, with a five-year phase-out on the Korea-U.S. one. We also have safeguards against import surges, the same as the Korea-U.S. agreement, and a permanent specialized dispute settlement that are connected with the Korea-U.S. procedures, which will expire over 10 years.
In terms of the snap back, we would like to make a point of saying that the U.S. snap back has a limited practical value and the U.S. tariffs are only 2.5% compared to Canada's 6.1%. This low tariff is why Korea agreed to the agreement. The U.S. snap back expires after 10 years and cannot be used in the first 4 years of the agreement.