During the first two years of the U.S.-Korea “free trade” agreement, the United States’ agricultural exports to Korea fell, Korean imports of automobiles soared and the trade deficit exploded 50 percent. Using the official U.S. government export-to-job ratio, the huge increase in the trade deficit since the Korea deal went into effect represents the loss of more than 50,000 U.S. jobs.
Some Iowans might be surprised to learn that the agreement is a job-killing flop given that state Republicans have attacked Democratic Senate candidate Bruce Braley for voting against it. Every Iowa congressional Democrat joined Braley in voting no.
But, the real question is why did every Republican in the state’s congressional delegation support it?