Thursday, May 07, 2015

Be afraid, be very afraid of the Trans Pacific Partnership

Are we ready to make the same mistake all over again?

NAFTA at 20: One Million U.S. Jobs Lost, Higher Income Inequality

Lori Wallach, Public Citizen
Updated: 03/08/2014 5:59 am EST

My New Year's celebrations this year were haunted by memories of January 1, 1994 -- the day that the North American Free Trade Agreement (NAFTA) went into effect. I remember crying that day, thinking about the proud men and women in union halls across America, the Mexican campesinos and the inspiring Canadian activists I had met during the fight against NAFTA, and hoping desperately that our dire predictions would be proved wrong.

They were not. In short order, the damage started. And, we started to document it.

For NAFTA's unhappy 20th anniversary, Public Citizen has published a report that details the wreckage. Not only did promises made by NAFTA's proponents not materialize, but many results are exactly the opposite.

Such outcomes include a staggering $181 billion U.S. trade deficit with NAFTA partners Mexico and Canada and the related loss of 1 million net U.S. jobs under NAFTA, growing income inequality, displacement of more than one million Mexicancampesino farmers and a doubling of desperate immigration from Mexico, and more than $360 million paid to corporations after "investor-state" tribunal attacks on, and rollbacks of, domestic public interest policies.

The study makes for a blood-boiling read. For instance, we track the specific promises made by U.S. corporations like GE, Chrysler and Caterpillar to create specific numbers of American jobs if NAFTA was approved, and reveal government data showing that instead, they fired U.S. workers and moved operations to Mexico.

(Continued here.)

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