FDL Action

No New NAFTA: Stop the NAFTA-Style Korea Free Trade Agreement!

Sign our petition to Congress:

No New NAFTA! With 15.1 million people currently unemployed in the United States, it is insane to extend the same NAFTA privileges to Korea that have already ransacked America's manufacturing sector and decimated our labor force. Don't support another job-killing, NAFTA-style 'free trade' agreement with Korea.

Add your name to our petition to the left.

 


 

Background information

More about the NAFTA-style Korea Free Trade deal from trade watchdog Public Citizen:

The Korea free trade agreement (FTA) did not have to instigate what will now be a nasty political battle. It could have provided the perfect platform to implement President Barack Obama's promised trade policy reforms to remove the worst job-killing aspects of former President George W. Bush's North American Free Trade Agreement (NAFTA)-style deal and rebuild bipartisan support for trade expansion. Within weeks of Obama's June announcement about moving forward with the Korea deal, 110 members of the U.S. House of Representatives sent a letter to Obama warning that they would oppose the pact in its current form -- noting that moving forward with "another job-killing FTA" was "unthinkable" in the current economic climate. They laid out essential reforms needed to the pact's labor rights, foreign investor offshoring promotion and financial deregulation terms needed for them to support the deal.

The current text includes the extraordinary investor rights that promote offshoring and expose domestic financial, environmental and health laws to attack in foreign tribunals. Signed before the financial crisis, the pact calls for financial services deregulation that is at odds with the lessons we've learned from the economic crisis and that may conflict with recent reforms made by both the U.S. and Korea. The pact also explicitly forbids reference to the International Labor Organization's conventions that establish internationally recognized core labor standards.

During the 2008 presidential campaign, candidate Obama pledged to chart a new course for American trade policy that could create jobs. In speeches, town hall meetings, questionnaires, mailings and paid advertisements in key swing states, Obama said that he would exclude from the pact language the damaging foreign investor rights and their private enforcement that threaten public interest safeguards and promote job-offshoring. He also said he would include strong, enforceable labor and environmental protections. The Korea pact fails on all these scores.


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