Eagle Forum Legislative Alerts

Monday, September 02, 2013

Lies about Trade Agreements

When will the American people wake up to the way U.S. jobs are betrayed by Barack Obama and the corporate interests that hide under the slogan "free trade"? It's an embarrassment that the powers-that-be in both political parties are pushing Congress to approve the new Trans Pacific Partnership agreement. We should have recognized free trade as bad news when Obama hammered on it in his State of the Union message. He probably looks upon it as another strategy to redistribute the wealth of our country around the rest of the world, which is a major goal of his administration.

In 2012 when Congress was passing the free trade treaty called the Korea-U.S. Trade Agreement, Obama predicted it would create 70,000 jobs for Americans who would then pay taxes and not need food stamps. He even predicted that "soon, there will be new [American] cars on the streets of Seoul [Korea] imported from Detroit." The bad effect of this Korea-U.S. agreement was immediate. In the first year after it took effect, the U.S. trade deficit with South Korea increased by $5.8 billion, costing 40,000 U.S. jobs, mostly in manufacturing, according to the Economic Policy Institute.

The Korea-U.S. agreement caused a big loss of American jobs but was really good in creating jobs in Korea. While the U.S. trade deficit with the world increased 21 percent, our trade deficit with Korea jumped 81 percent. We're still waiting to see Detroit-made cars on the streets of Korea. With that experience, it makes no sense for our trade negotiators to expand and imitate the Korea-U.S. trade model. Let's be clear: these trade agreements produce imports of foreign goods and the export of American jobs. It's not Obama's job to create jobs in other countries.

Listen to the radio commentary here:

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