August 4, 2011: Liberalizing Trade
Congress is likely to take up
stalled free trade agreements with Colombia, Panama, and South Korea when it returns from its August
recess. Adjunct Fellow Fran Smith
talks about the good and bad parts
of the agreements. Billions of dollars
of economic benefits are offset by trade-unrelated provisions, such
as labor and environmental
standards. These erode our trading partners’ lawmaking sovereignty.
An increase in trade adjustment assistance also seems likely. This
gives money and training to workers who lose their jobs because of international trade.