Teamsters are describing the so-called South Korea Free Trade Agreement as the "Son of NAFTA."
Teamster prez, Jim Hoffa, says “This deal would allow so-called ‘Korean’ cars sold in the United States to be made mostly in other countries because of the ridiculously low rule-of-origin requirement. I also have serious security concerns because the deal would cover products assembled in South Korea made with parts from North Korea.”
Peter Gemma, a conservative writer, isn't taken with it, either. He writes, "The Korea Free Trade Agreement has nothing to do with free or fair trade. It’s managed trade as defined in over a thousand pages filled with favors and exceptions for some special interests, while imposing obligations and restrictions on the beleaguered American manufacturing sector."
But CNN Money can't praise it enough.
Do we really need to lose more jobs and increase our trade deficit?
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