Obamas Free Trade Agreement with Korea

Introduction

On the twenty third day of May 2008 , Democratic presidential candidate Senator Barrack Obama voiced his displeasure over the US- South Korean free trade agreement asserting that President Bush would have to tassel it out with him if he were to send it to parliament . Senator Obama has also opposed other Trade agreements such as the North American Free Trade Agreement (NAFTA . Despite the fact that the Senator has his reasons for doing so , one cannot ignore the benefits that such trade agreements have brought to the country (Chosun news , 2008

p The benefits of Free Trade Agreements

President Bush pushed for the free trade agreement between the United States and South Korea . This marked one of the largest agreements after NAFTA . Senator Obama claims that this trade agreement will hurt the American laborer but his arguments hold no water given the fact that the will encourage more trade . In the end , there will still be jobs for the American worker . For instance , if the US -South Korean trade agreement is sealed , then it would increase the number of imports into the US by a whooping seven billion . Additionally , the trade agreement would also increase the number of exports to South Korea by ten billion . Senator Obama claims that there are too many South Korean products that enter the US market compared to those that leave the US . However , the trade agreement would ascertain that the US ' exports increase and this will eventually boost the economy (Palmer , 2008

South Korea is a key US ally

The US has been conducting trade with South Korea for years . Senator Obama ascertains that the automobile industry within the US is particularly feeling the pinch because too many South Korean vehicles are entering the US market . However , one cannot underestimate the fact that South Korea has been a great business ally with the US . Surplus registered in one industry is offset by an imbalance in another sector For instance , South Korea ' s farmers were complaining that the US had restricted entry of beef products into the country and this led to tension between the two countries . Even though South Korean automobile manufacturers were enjoying doing business with the US , they were still feeling the pinch in the livestock sector . It is important for the US to protect its relationships with certain key allies because the country has taken so long to forge that relationship . Rejecting a trade agreement with the country could damage this relationship (Palmer 2008

The US should seriously consider South Korea as strategic partner . First of all , South Korea 's economy has grown at a very past pace . This means that there is a lot that the US could benefit from such an economy Additionally , South Korea bs a country that could present danger to the American people . South Korea 's neighbors have nuclear programs and are run by dictators . Therefore , if the US forged a relationship with South Korea , then it would be protecting its military interests in case of...