Current and Pending FTA’s Will Destroy the American Economy

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We are currently in one-sided “free” trade pacts like the North American Free Trade Agreement, which have put us at a major disadvantage in both the global economy and our economy at home. Few are aware that NAFTA has rendered us uncompetitive in the world economy, destroyed our industrial base, caused us to outsource most of our production and killed most of our manufacturing jobs.

Imagine if Congress decided that a single state, such as California or Michigan, was in desperate need of jobs and investment and made dramatic changes to boost that state’s economy.

Imagine Congress did the following for only one American state:

- Dropped the minimum wage to $3 per hour
- Exempted them from child labor laws
- Expanded the work week
- Reduced health and work place safety laws
- Banned unions
- Reduced protection for the environment

Wouldn’t that be ridiculous? Well, that is exactly what NAFTA did for Mexico, to the detriment of the entire United States. These lopsided “free” trade deals put American workers in direct competition with workers in other countries who earn much lower wages. To produce here in America, manufacturers would need to pay their workers $18-20 per hour. That same product can be produced right across the border in Mexico, at wage rates of just $3 per hour, and then shipped back to the U.S. duty-and-restriction-free.

The United States has literally incentivized the off-shoring of American jobs through “free” trade and tax breaks to companies that outsource. No U.S. manufacturers can compete with those conditions. They are closing up, selling out or leaving the country. NAFTA has been instrumental in rendering our economy totally uncompetitive. It has also caused millions of our jobs to leave the country.

President Obama and many in Congress now want to extend this one-sided trade arrangement to South Korea and all other Asian nations. It is being sold under the false pretense that it will help our exports, not mentioning that it will more than double our imports and shut down more of our factories.

If the KORUS FTA (Korean-U.S. Free Trade Agreement) passes, all parts of our economy; manufacturing, trade, banking and finance will then be covered in the agreement. Our economy will be supervised and controlled by the WTO (World Trade Organization). The American government as you know it will be a thing of the past. We will no longer be self-governed, self-managed and we will no longer be free.

We must turn these trade agreements into fair trade deals that will create an equal market place – one where American companies can compete in the largest global economy – the United States. Only then will we have jobs, and we will be able, once again, to produce for ourselves.

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