No Free Trade With Korea


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The federal government has initiated free trade negotiations with South Korea, and those talks are proceeding rapidly. Top-level negotiating sessions have already been held. It is possible that the two parties could reach a comprehensive free trade agreement in the near future.

A free trade deal with Korea poses substantial economic risks to Canada. Many important Canadian industries would suffer tremendous damage if Korean-based producers are allowed more freedom to penetrate Canadian markets: auto; auto parts; shipbuilding; electrical and electronics products; machinery; tool, die and mold industries; food processing; and other sectors. Canada's bilateral trade deficit with Korea is already $4 billion, resulting in the destruction of some 15,000 jobs. This pain would inevitably get worse under a free trade deal with Korea.

A free trade agreement with Korea can be stopped, if concerned Canadians work together.