Latest Bush Administration Trade Agreement Would Result in Job Loss

March 1, 2007 – Despite the devastation and job loss the North American Free Trade Agreement (NAFTA) brought on working families, the Bush administration is using the same faulty trade model in the U.S. – Korea Free Trade Agreement (also known as KORUS).

The Economic Policy Institute recently held a hearing examining the results of a major
study, Revisiting NAFTA: Still Not Working for North America’s Workers, and its implications for US-KFTA.

“We were promised good things would come from NAFTA, but look at what happened,” said Rep. Betty Sutton (D-Ohio). “We cannot enter any more trade agreements with the flawed NAFTA model.”

Findings regarding NAFTA’s impact on workers in the United States, Mexico and Canada include:
• Despite a growth in workers’ productivity, workers’ salaries in each nation remained stagnant or dropped.
• More than 1 million jobs that would have been created were lost in the United States.

Read more here.