I don't expect to see anything positive come out of this agreement either fore the US or Canada. Look at the actual results of the NAFTA and CAFTA agreements to date. Both nations have been put in some bad trade situations. Automobiles is just one commodity. Look at the electronics and clothing sectors too.
So far as I can see this will just export even more manufacturing jobs off shore or people here had best be getting accustomed to working for $20/day. If we keep exporting real jobs soon the only rich left in North America will be government workers.
What? Are you saying North Koreans can produce higher-quality products more efficiently and so at a better price?
Well then, how about we improve our education system to ensure our workforce has the skills to compete. Protecting our model-T industry is not the way to advance. Free trade helps:
1. clear out our model-T industries so as to allow more space for our new industries to grow.
2. make more obvious any flaws there may be in our economy such as poor labour skills, etc. which might spur governments to increase spending on education.
3. Force our industries to become more efficient.
Free trade is painful because it forces us to do just that. Once the transition is over though, both sides benefit.
I'm not a US citizen, so it's not up to me to decide. But if it were up to me, I'd be all for it.
People who work in the call centres that high-paying - and bartered away - industry was replaced with aren't going to rush to buy anyone's product once the grocery bill, rent and utilities are paid.
If SK has the absolute advantage, then it wouldn't take long for the currencies to adjust as Canadians rush to buy South Korean products. That advantage would be but temporary. Once the currencies are natrually readjusted, then there would also be the advantage of pressure for both sides to become as efficient as possible, not to mention possible collaboration between US and SK companies too.
Thats fine for those of you that get a cheque from the government every month but those of us that have to work for a living would soon have no jobs to make money to buy anything with. Nevermind paying the mortgage and food. The only reason NAFTA works as well as it does is because Canada and the US have roughly the same standard of living. Try and buy a tire made in North America. THe last pair of lower priced snow tires I bought were made in Thailand but they were only about $40 cheaper than Michelins.
Even with NAFTA we are getting screwed over with lumber. Many mills in B.C. have shut down and the logs are going to Washington where they have built some hightec mills that pay between$12-14/hr. with **** for bennies. That is about 1/3 of our labour rate in a union mill. Now we all know that you cannot feed a family and pay a mortgage on $14/hr in BC. And you want us to compete with people that work for a bowl of rice a day?
All the education in the world isn't going to get McDonalds, Wendy's, Hortons or the call centres to pay the same sort of wages traded-away industry did. You just get a lot of well-educated and bored people.
I forgot the other important point to free trade with third world countries. We have stringent and expensive health and safety laws and they have?... a line of poor willing to risk life and limb (literally) for that bowl of rice a day.