Gone are the days when free trade was the answer to everyone’s prayers. Even the International Trade Commission couldn’t run the numbers in a 2022 report on NAFTA and the Korea-U.S. Free Trade Agreement to make it look like anything more than a boom for multinationals who either shifted production to Mexico or got to sell more soybeans to the Koreans (but not more cars). The U.S. has trade deficits with both countries.

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