It has become increasingly clear that good news for Wall Street does not mean good news for average Americans. Multinational corporations continue to profit from our misguided and disastrous free trade agreements, pushing the value of their stocks up while putting American workers on the streets.
Tag Archives: Free Trade
WTO Chief Pascal Lamy recently gave a speech where he claimed that “trade improves the lives of most people around the world.” He used this statement to argue for more free trade and less protectionism, but whether or not his statement is true for the world as a whole, free trade has been bad for the United States. The small cost savings that are spread across the whole population are no substitute for the millions of jobs that have been lost due to free trade.
Unbeknownst to many Americans, the seafood they eat may be slowly killing them. Due to our lax inspection efforts we have no idea what is in the food we eat. 80 percent of our seafood is now imported, but less than 2 percent is checked! Much of this imported seafood is contaminated with antibiotics and toxic chemicals and it is making its way to your dinner table.
The passing of the new free trade agreement with South Korea is certain to create an outflow of American jobs over the next several years, and has already increased the U.S. trade deficit. In light of this, many proponents of the ill-advised pact have championed the political pull it will allegedly give the United States in Asia, and perhaps weaken the power of China on a global scale. Unfortunately, the same fundamental flaws that make free trade disadvantageous for the U.S. will still apply to this plan.