United Steelworkers Criticize Korea FTA Results at One-Year Mark
The U.S. trade imbalance with South Korea has only gotten worse in the year since the implementation of the U.S.-Korea Free Trade Agreement, said United Steelworkers International President Lego Gerard in a press release. "Imports of passenger vehicles from South…
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Korea totaled $10.9 billion in 2012, up from $9 billion the year before -- a $1.9 billion increase, while U.S. exports increased a tiny $180 million to $546 million," he said. “In short, our trade deficit with South Korea is getting worse. With it, more good-paying, family supportive jobs are being lost at the rate of more than 5,000 American jobs per billion dollar increase in the trade deficit."