In a letter sent to the White House dated Sept 22, 2010, 155 American organizations from various backgrounds plea in unison to the federal government to renegotiate US-Korea Free Trade Agreement. The ‘Bush-negotiated’ agreement was drafted in 2007 prior to the financial crisis, and the letter asserts the failure of the policy and the damage to the US labor market deems it necessary to renegotiate the terms. Other concerns regarding content of the pact include the Bush Administration’s ‘explicit ban on reference to the International Labor Organization’s core Conventions’ while being heavily focused on investor rights. The letter directly highlights Obama’s promises to America, that being alleviating the harm done by the Bush Administration and previous Free Trade agreements, ie, NAFTA. Canadian companies in the US are accused of causing large financial losses whilst Korean farmers “participated in massive protests against the FTA in Korea wanting to avoid the same decimation that Mexican farmers experienced after the implementation of NAFTA.” Their main message: Korea FTA will not only add to the large US trade deficit, it will undermine US jobs and the wishes of the American and Korean working class.
Read the letter here