The
Trump administration is considering withdrawing from KORUS (the South Korea-U.S.
free trade agreement). The data supports pulling out, but globalists - who
support economic growth in other countries but support only Wall Street and
Silicon Valley growth here - are freaking out. The case for pulling out of
KORUS is stronger than the case for pulling out of NAFTA. First, Korea is a
recidivist currency manipulator. It’s currency, the won, remained 14.4%
undervalued in May, making Korean goods and services cheaper than they would be
with a fairly-priced won. Mexico’s currency, in contrast, is not undervalued. Second,
America's trade performance under the KORUS agreement is the worst among all U.S.
trade deals. [more...]
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