• Next News Network
Some key labor leaders in Washington are saying the U.S. can't afford another trade agreement modeled on the North American Free Trade Agreement.
All things considered, this NAFTA accord has cursed the economy over the 20 years of its existence.
Jobs have been either its chief export or its main casualty.
U.S.-based corporations have shut down their American manufacturing in order to "farm out" the labor to cheap foreign labor markets.
This enormous savings on labor has become record levels of compensation and bonuses for CEOs leveraging the NAFTA system.
Meanwhile, U.S. import taxes known as tariffs are relaxed to near-oblivion.
The resulting flood of foreign-made goods enters the U.S. market with barely any revenue attached to offset the fact that the U.S. tax base has been reduced with factory closures.
Furthermore, the imported goods are sold at greatly-reduced retail prices. This often undercuts whatever U.S.-made products remain on store shelves.
At the same
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