Vol. 34, No. 16
August 20, 2018
“Free Trade” Isn’t Really About Trade
“Free trade” sounds great to most business people, but free trade treaties are about giving up a country’s powers and people’s rights to unaccountable international entities. ...
“Free trade” sounds great to most business people, but free trade treaties are about giving up a country’s powers and people’s rights to unaccountable international entities.
In June 1994, during congressional debate over approval of joining the World Trade Organization (WTO), Republican congressman Newt Gingrich said:
We need to be honest about the fact that we are transferring from the United States at a practical level significant authority to a new organization. This is a transformational moment. I would feel better if the people who favor this would just be honest about the scale of change.
Twenty years from now we will look back on this as a very important defining moment. This is not just another trade agreement…. I am not even saying we should reject it; I, in fact, lean toward it.
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