President Obama wants KORUS, a North American Free Trade Agreement-type Korea free trade agreement

In a recent act he called cementing a "strong alliance with South Korea," Obama signed the Korea Free Trade Agreement (KORUS). The president praised the potential deal in numerous ways, but critics like progressive political blogger Jane Hamsher of FireDogLake.com see Korea Free Trade Agreement as providing up 159,000 American careers for a mere eight hundred in return, based on the Huffington Post.

UAW leader gives Korea Free Trade Agreement thumbs up

United Auto Workers President Bob King has endorsed the NAFTA-style Korea Free Trade Agreement, as have Jamie Dimon of JPMorgan Chase, Vikram Pandit of Citigroup, Tom Donahue of the U.S. Chamber of Commerce and John Engler of the National Association of Manufacturers. The original NAFTA may send hundreds of thousands of jobs out of America which occurred with Korea free trade which has non-management personnel in the UAW are not very happy about it. Hamsher explains the auto industry management is served well by Korea Free Trade Agreement.

Other labor unions have started to feel the heat from Korea Free Trade Agreement, explains the Huffington Post. In fact, bargaining has been kept from Korea as trade unions are being built under the AFL-CIO banner. Evidently labor presidents were "pressured" be Labor Secretary Hilda Solis. This is why the Korea Free Trade Agreement terms were accepted supposedly.

'Fair trade’ makes it so eight hundred careers are created while 159,000 jobs are listed

In total, it’s believed that the United Auto Workers could be given the green light to produce 55,000 more cars under Korea Free Trade Agreement, which amounts to eight hundred new jobs, based on a Congressional Research Service report. The Economic Policy Institute explains clearly though that the NAFTA-style KORUS would mean losing a lot of careers over the next five year. About 159,000 jobs would be lost from the United States job market. The Korea Free Trade agreement with easing tariffs is a good thing though, according to the president. It would supposedly expand the export industry bringing $11 billion to the U.S. America would end up with 70,000 more careers, according to Obama. He also said that over that five year period, the country's export market would double. South Korea would have to approve KORUS along with the United States Tax News explains that South Korea may not like the idea very much.

Info from

Huffington Post

huffingtonpost.com/jane-hamsher/uaw-gets-800-jobs-for-end_b_792031.html?utm_source=DailyBrief&utm_campaign=120610&utm_medium=email&utm_content=BlogEntry&utm_term=Daily+Brief

Tax News

tax-news.com/news/US_S_Korea_Reach_Agreement_on_FTA______46677.html

President Obama’s KORUS announcement

youtube.com/watch?v=YxG0C589Luk