Tuesday, December 31, 2013

Looking Back: The Disaster of NAFTA

From Daily Kos:

Public Citizen’s Global Trade Watch has issued a new report, NAFTA at 20: One Million U.S. Jobs Lost, Mass Displacement and Instability in Mexico, Record Income Inequality, Scores of Corporate Attacks on Environmental and Health Laws. The report compares the promises with which NAFTA was sold with the results we can measure 20 years later.

 NAFTA was not just a "trade" agreement. Trade agreements focus on cutting tariffs and easing quotas and barriers to goods moving across borders. The report points out that NAFTA was much more, giving corporations special rights, incentivizing offshoring and limiting regulation....

 Some of the effects of NAFTA that are highlighted in the report include,
  • $181 billion U.S. trade deficit with NAFTA partners Mexico and Canada,
  • one million net U.S. jobs lost because of NAFTA,
  • a doubling of immigration from Mexico,
  • larger agricultural trade deficits with Mexico and Canada,
  • and more than $360 million paid to corporations after “investor-state” tribunal attacks on, and rollbacks of, domestic public interest policies.
The data also show how post-NAFTA trade and investment trends have contributed to:
  • middle-class pay cuts, which in turn contributed to growing income inequality;
  • how since NAFTA, U.S. trade deficit growth with Mexico and Canada has been 45 percent higher than with countries not party to a U.S. Free Trade Agreement,
  • and how U.S. manufacturing and services exports to Canada and Mexico have grown at less than half the pre-NAFTA rate.
The report lists and details many, many more such outcomes....Read the rest here.

3 Comments:

Blogger Father Tyme said...

These great deals are still being continued by the Obamanation.

And yet the Republicans insist they don't like Clinton or Obama.

Don't hear quite as much complaining any more from banking or corporate CEOs, eh?

9:09 PM  
Blogger Jefferson's Guardian said...

FT, they love him! He's their meal-ticket to greater riches.

It appears NAFTA is just a drop in the bucket compared to the TPP that's going through final (and secret) negotiations right now.

Waiting for the hammer to fall...

6:10 PM  
Blogger Father Tyme said...

JG,
What really galls me is that HE loves THEM! He always has.

We've been lied to, right to our faces. And yet, there are those who voted for him who will defend him no matter what. But jus ask any one of them what he really did for them individually. Bet they can't answer.

But he's better than Bush, right?
There's a forest out there somewhere...

If a Congressman (or woman) shits on the Capitol Floor and every other one is there to smell it, do the others think it stinks (Warren and VERY few others excepted)?

5:23 PM  

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