One of the main reasons our Free Trade Agreements (FTAs) do not work is due to the fact that other countries immediately implement a value-added tax system after joining the World Trade Organization (WTO), while the U.S. still has not implemented a VAT. Free Trade Agreements either eliminate all or most of the tariffs between two countries. Once a country joins the World Trade Organization (WTO) that country then almost immediately implements a VAT system or raises their VAT to replace their tariffs. The VAT acts just like a tariff but is entirely in line with WTO standards. The result of this system is that American exports are essentially economically blocked by other nations.
Tag Archives: WTO
When will we wake up to the realization that some of the agreements we have signed - specifically our agreement with the World Trade Organization (WTO), our agreement with South Korea (the KORUS FTA) and our agreement with Canada and Mexico (NAFTA – the North American Free Trade Agreement) – are preventing us from doing what is in our best interests? We are being controlled and directed – told what to do – by other nations, for their benefit and to our detriment.
When absolute power over all trade is given to a body of people that have their own political agendas, that power inevitably corrupts and leads to the detriment of all. We must become an independent fair trader with the world, trading without the WTO or any other “free trade” agreements. Doing so would take us a large step toward the restoration of our country’s economic viability, and the assurance that foreign interests no longer control America’s fate.
China is using our ailing economic condition to their benefit. While jobs here in the United States continue to be lost and our trade deficits and national debt continue to rise, China is booming.
Americans want strong leaders and a strong economy, but it will be impossible to manage our country for our own benefit as long as we are committed to the disastrous “free trade” agreements our leaders have foolishly signed. These agreements allow foreign countries to unfairly and irresponsibly make decisions that affect our economy and our lives.