Broken Promises: Outcomes of Korea, Colombia and Panama FTAs
U.S. Trade Deficit With Korea Is Up, Colombia’s Anti-Unionist Violence and Panama’s Tax Haven Policies Continue
By Public Citizen's Global Trade Watch
In 2011, the Obama administration promoted free trade agreements (FTA) with Korea, Colombia and Panama as a way to create American jobs, promising that the pacts would increase U.S. exports. Benefits were also promised for each: “greater U.S. access to the Korean auto market, significantly increased labor rights and worker protections in Colombia, and enhanced tax transparency and labor rights in Panama.” The pacts, modeled on the North American Free Trade Agreement (NAFTA), passed with strong GOP support but most Democrats opposed. Since going into force in 2012, the Trump administration has made limited revisions to the U.S.-Korea FTA, while the two others remain unchanged.