President Obama Still Pushing Disastrous “Free Trade” Agreements
Nearly two and a half years have passed since the U.S.-Korea Free Trade Agreement was given final approval, and so far the United States has not seen the promised benefits. Yet President Obama hails KORUS as a success and continues his crusade for support for another damaging “free trade” agreement, the Trans-Pacific Partnership (TPP).
The Korean-US Free Trade Agreement (KORUS) is a “free trade” agreement between the United States and South Korea. Already it has resulted in:
- A 10% decline of U.S. exports to Korea
- The U.S. trade deficit with Korea has climbed 37%
- U.S. auto industry has been crippled
- Loss of U.S. control where international trade, banking and finance is concerned
- A projected 159,000 jobs will be lost
And yet, the leader of the free world is claiming U.S. exports to Korea have increased and this “free trade” agreement is good for our economy! Why is he saying such things? Simple. It is because of the looming Trans-Pacific Partnership (TPP) that he wishes to see implemented. Even though President Obama should clearly see the harmful effects that KORUS is having on the U.S. economy, he is trying to gather support for another equally disastrous “free trade” agreement known as the Trans-Pacific Partnership (TPP).
If passed, the TPP would unite the economies of Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, Mexico, Canada and the United States. Even Japan has recently signed on to the negotiations.
Like other trade agreements, the TPP is being advertised to the U.S. as a means to improve our economy and increase exports. However, if the disastrous effects of KORUS are any indication, the TPP will only serve to further cripple our economy. After all, KORUS has proven to be nothing more than a job killer for the United States.
Furthermore, the passing of the highly secret TPP trade agreement would bring a tidal wave of new rules and regulations that would impact everything from financial regulation, service-sector regulation, labor and environmental standards, investment, government procurement, patents and copyrights, labor and environmental standards, and trade in industrial goods and agriculture.
Let your Congressional representative know that “free trade” agreements like KORUS and TPP are hurting the United States and taking jobs away from hardworking Americans. Send this article to five of your friends and ask them to do the same!