Wisconsin Farmers Union Opposes Korea-U.S. Free Trade Agreement

Wisconsin Ag Connection The leader of the Wisconsin Farmers Union says free trade agreements promise to deliver prosperity, but historically have been a bad deal for American workers and farmers. In a statement to the media on Thursday, WFU President Darin Von Ruden said his group strongly opposes the Korea-U.S. Free Trade Agreement and urges Congress to do the same. "We feel our legislative leaders should be protecting and promoting American jobs, family farms and our rural communities through sound economic, environmental and labor policies," Von Ruden said. "We don't think this trade agreement adequately promotes these values." The Chippewa Falls-based organization says agreements typically increase imports rather than open up new markets for U.S. goods, and that the Korea-U.S. Free Trade Agreement appears to be no different. "As predicted by the U.S. International Trade Commission and the Economic Policy Institute, the Korea-U.S. FTA will lead to a net loss of 159,000 American jobs and increase our trade deficit by $16 billion over the next seven years," he noted. Von Ruden also cited a report from the U.S. Treasury Department, which says South Korea has had a history of undervaluing their currency, which could eliminate any financial benefits for U.S. exports by minimizing U.S. tariffs to the point of non-profitability. Read original post here.