Korea Free Trade Agreement
In October of 2011, the NAFTA-style Korea trade deal was approved by Congress. Although civil-society both in Korea and the United States have long protested against its implementation, March 15th now marks the day that the Korea trade deal went into effect. The agreement with Korea is the largest offshoring deal of its kind since NAFTA. The deal is set to displace 159,000 American jobs in the first seven years. Even the official U.S. government study on the Korea pact says that it would increase our trade deficit—meaning more job loss – and it hits the "jobs of the future” sectors hardest – solar, high speed trains, computers.
The Korea pact sets the stage for future, flawed trade deals, like the prospective Trans-Pacific Partnership (TPP) free trade agreement. Read the latest updates and see what the Korea trade deal means for our future.
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