KORUS will make it impossible for us to prevent foreigners from taking over entire U.S. industries, which they can buy with the U.S. dollars they accumulate from our balance of trade deficit. KORUS will effectively nullify U.S. laws and regulations that restrict economic monopolies.
KORUS will enmesh us in a legal labyrinth called "investor-state arbitration." That means subjecting our laws to review by foreign bureaucrats anytime we are accused of interfering with free trade.
The power "to regulate commerce with foreign nations" is one of the most important powers given to Congress by the U.S. Constitution. It is foolish and unconstitutional to turn any part of that power over to any tribunal of foreigners.
U.S. regulation of food imports is already under attack in the World Trade Organization, and KORUS will give Korea the right to limit our ability to regulate the quality of food imports. We will lose our ability to protect ourselves from contaminated and toxic foods.
Free trade has always been a one-way street, which is why the U.S. has built up an enormous trade deficit. The principal factor in creating this unfair trading system is that foreigners simply replace their tariffs with a Value Added Tax, and KORUS does nothing to remedy or reduce this gross unfairness.
KORUS allows South Korea to continue its 10 percent VAT. That means South Korea can subsidize its exports to the U.S. by 10 percent, called a VAT rebate, and impose a 10 percent tax on U.S. exports to South Korea, which obviously makes U.S. goods more expensive.
Any member of Congress who votes for this grossly anti-American agreement either doesn't understand what is going on, or is serving the interests of the multinational corporations who want to move their plants to Asia where wages are less than $1 an hour.
Some people are calling KORUS the new NAFTA. Since NAFTA didn't fulfill its promises and cost millions of American jobs, we can expect likewise from KORUS.
Fifty thousand Americans gave their lives in the 1950s to keep South Korea free, and we've maintained an expensive border patrol ever since to protect against Communist North Korea, so South Korea doesn't have to provide its own defense. We shouldn't give South Korea American jobs, too.
Phyllis Schlafly is a lawyer, conservative political analyst and author of 20 books. Her latest, written with co-author Suzanne Venker, is "The Flipside of Feminism" published in March by WorldNetDaily. She can be contacted by e-mail at firstname.lastname@example.org. To find out more about Phyllis Schlafly and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Website at www.creators.com.
COPYRIGHT 2011 CREATORS.COM
Phyllis Schlafly is a national leader of the pro-family movement, a nationally syndicated columnist and author of Feminist Fantasies.
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