Late 2010 negotiations on outstanding issues with the Korea-U.S. Free Trade Agreement (KORUS) were a big disappointment to organizations like ours. The outcome was a supplemental deal that basically only addressed market access for U.S. autos. The negotiations did not result in the substantial changes needed to make the Korea FTA an acceptable agreement. To see a summary of of the supplemental deal click here. (pdf)
Pushing another destructive trade deal is a continuation of attacks on workers in our country and around the world. Originally negotiated over three years ago by the Bush Administration, the Korea FTA is the biggest free trade agreement since NAFTA itself. If passed, it will accelerate the off-shoring of Minnesota jobs, expose the state’s environmental laws to new types of challenges, and prohibit the type of banking regulations needed to head off the next financial crisis.