U.S. Trade Deficit with Korea Soars to Highest Point on Record under FTA

[Teamster Jeff]

>>>
The just-released monthly trade data from the U.S. International Trade Commission reveals an expanding U.S. trade deficit with the world as U.S. exports dropped and imports rose in January, relative to December of last year.
>
January's U.S. trade deficit with Korea topped $2.4 billion -- the largest monthly deficit with Korea on record. In short, another month of trade with Korea under the Korea FTA has produced another month of remarkably large job-displacing trade imbalances.

The U.S.-Korea trade imbalances of recent months are remarkable not just in comparison with most other U.S. trade partners, but in comparison to how U.S. trade with Korea looked before the Korea FTA took effect in March of last year.
>
As Obama administration trade negotiators meet in Singapore this week to hash out the details of the Trans-Pacific Partnership, a massive expansion of the Korea FTA model, they should take a gander at this data. If the Obama administration hopes to fulfill its promise of a rebirth in U.S. manufacturing, a restoration of middle-class wages, and a recovery of decent jobs, it cannot afford to sign another sweeping FTA that expands upon the Korea FTA's sorry track record.
>>>


http://citizen.typepad.com/eyesontrade/2013/03/this-months-release-of-government-trade-data-reveals-an-expanding-us-trade-deficit-with-the-world-as-us-exports-dropped-a.html

[Arctic Dave]

1. Who could have predicted this!!!

And Obama wants to do mor "free trade" deals.

[limpyhobbler]

2. We ain't seen nothing yet. Just wait until the Pacific and Atlantic "free trade" zones kick in.