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.
- (02/06/2014) Statement: Major Drop in U.S. Exports to Korea Since Obama’s Free Trade Pact, Zero Growth in U.S. Goods Exports Revealed in Today’s 2013 Year-End Trade Data Another Blow to Obama Push for Fast Track and TPP
- (11/7/2013) Press Release: Obama Plan to Double U.S. Exports by 2014 Floundering as He Heads to New Orleans Port to Sell His Trade Policy
- (4/9/2013) Memo: Korea, Colombia and Panama FTAs: U.S. Exports to Korea Down, Imports from Colombia Up, Panama Tax Haven Policies Continue
- (03/14/2013) Press Release: On Anniversary of U.S.-Korea FTA Implementation, Though the FTA's Outcomes Are Abysmal, Obama Pushes for Trans-Pacific and European Agreements Based on Same Model
- (02/11/2013) Reporters Memo: USITC Trade Data Shows Obama Goal of Doubling Exports Is Even More Remote Relative to Census Bureau Data, Due in Part to Falling Exports under FTAs with Korea, Colombia and Panama
- (02/07/2013) Reporters Memo: Tomorrow's Census Bureau 2012 Trade Data Will Include Foreign-Made "Re-exports" but Even with Inflated Data, Obama Goal of Doubling Exports in Five Years Lags
- (10/12/2012) Press Release: Contrary to Obama’s Claim, the Three U.S. Free Trade Agreements Passed a Year Ago Today Have not Boosted U.S. Exports
- (03/14/2012) Press Release: Obama Ignores Korean Request for Changes to Trade Deal
- (02/08/2012) Letter: Korean Parliament Leaders of the Opposition Request Renegotiation of Korea Trade Deal
- (10/12/2011) Statement: Job-Killing Trade Deals Pass Congress Amidst Record Democratic Opposition
Videos & More