How is the FTA with South Korea Working? Not so great for America

[GHook93]

Imports from SK up 15% and exports down 12% and trade deficit is $22 bil!!!

Again how does this help the American people? CAFTA produces a surplus with all the countries in it. SK FTA, NAFTA and our China policies are RETARDED!

Now South Korea Is Cleaning Our Clock | Economy In Crisis
And, surprise! The U.S. trade deficit with Korea tripled in one month. Imports from South Korea jumped 15 percent to $5.5 billion in April, while U.S. exports to South Korea fell 12 percent to $3.7 billion. Suddenly, the U.S. trade deficit with Seoul surged to an annual rate of $22 billion.

Shades of NAFTA. When it passed in 1993, we had a $1.6 billion trade surplus with Mexico. By 2010, our trade deficit with Mexico had reached $61.6 billion.

There is other news of interest in those trade figures for those who chronicle the industrial decline of the United States.

In 2011, America ran the largest trade deficit ever with a single nation, $295.4 billion, with China. But this year, the U.S. trade deficit with China is running 12 percent ahead of 2011.

And the U.S. trade deficit with the world is now back up over $600 billion a year.

What do these mammoth and mounting deficits mean?

A deepening dependence on foreign nations for the necessities of our national life. A steady erosion of our manufacturing base. A continued stagnation in the real wages of the middle class. And an unending redistribution of America’s wealth to foreign lands.

 

[Mad Scientist]

"Free Trade" doesn't always mean "Fair Trade".

 

[GHook93]

"Free Trade" doesn't always mean "Fair Trade".

To the victor goes the spoils I guess!