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Biggest Trade Deal Since NAFTA Moves Forward Jim Capo In Seoul today, The Office of the United States Trade Representative signed off on on the KORUS FTA deal with South Korea just as President Bush's TPA clock timed out. "Free" trade cheerleaders at Forbes laid out the basics: "The deal, which requires approval by lawmakers in both countries, is the biggest for Washington since the North American Free Trade Agreement signed in 1993, and is expected to lead to more than 90 percent of U.S. exports to South Korea being duty free within three years. It is the biggest trade deal ever for South Korea, which in nearly 50 years has grown from one of the world's poorest countries to become its 10th-largest economy." Forbes did not mention what impact 35,000 US soldiers in South Korea may have had on the negotiations. The fight now officially moves from the streets of Seoul to the US Congress in the battle for the biggest US trade deal since NAFTA. If President Bush does not get his TPA extended, the vote on the KORUS FTA must occur by midnight on June 30th or the deal dies by default. There is no better time to demand that Congress reverses the trade policy that is destroying the American middle-class. Defeating the KORUS FTA and repealing NAFTA make for a good two pronged offensive against those who seek to subjugate us.
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