I haven’t really studied the proposed free-trade deals with Panama and Colombia, but I can support the free-trade agreement with South Korea. After the disastrous midterm elections, I didn’t expect much of anything except these free trade agreements to pass in this Congress. I have been surprised at how little controversy or even discussion they have aroused. This is the first article I’ve seen on how these treaties are progressing. It looks like they’re on target. The administration is refusing to move the bills unless the Republicans cave on their opposition to the expansion of the Trade Adjustment Assistance Program (TAA). The Republicans are complaining about this demand because it costs money and they don’t give a shit about the people who lose their jobs because of international trade. But they’ll gladly pony up the money to get these trade deals done.
I reserve the right to change my mind, but I don’t think we have enough trade with Colombia or Panama to gain or lose a whole lot through these deals. South Korea, on the other hand, will be open to a lot more American products on more even terms. I think we will definitely get the better end of the deal.
But, hey, anyone who is a trade buff, feel free to weigh in with your opinions on the pros and cons of these agreements.
Boo:
The deals will pass unless something major happens(which means it would force Obama left). And I am sure you know why there is a hold up with the Colombia deal.
We should put a tariff on Korean goods to pay for all the military costs we have incurred in the last 60 years. Meanwhile, Samsung and Hyundai undercut domestic products that have to support the crushing costs of defending the US Defense establishment.
Meanwhile, Obama launches a “preemptive strike” against his most loyal voters.
The South Korean deal makes some sense.
As far as expanding the Americas? Now would be a good time to short Cocaine futures.
Free trade agreements (FTAs) have proved to be one of the best ways to open up foreign markets to U.S. exporters. Today, the United States has FTAs with 14 countries. In 2006, six new FTAs were implemented: with Bahrain, El Salvador, Guatemala, Honduras, Morocco, and Nicaragua. Last year, trade with countries that the United States has FTAs was significantly greater than their relative share of the global economy. Although comprising 7.5 percent of global GDP (not including the United States), those FTA countries accounted for over 42 percent of U.S. exports.
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