|September 27, 2006
New study raises concerns about Canada-Korea Free Trade
|An economic study of the federal government’s proposed Canada-Korea Free Trade Agreement raises major concerns over the
impact of the deal, including the loss of more than 33,000 Canadian manufacturing jobs.
CAW president Buzz Hargrove released the study today in Ottawa after meeting with International Trade Minister David Emerson to
highlight the negative impact of Canada-Korea Free Trade.
“It makes no sense at all for the Canadian government to be pushing for a free trade agreement with Korea at a time when many
manufacturers in Canada, including the Big Three automakers, are struggling to maintain and build markets.”
The study, titled Employment Implications of Trade Liberalization With East Asia, was prepared by CAW economist Jim Stanford and
Daniel Poon, from Carleton University’s School of Public Administration.
It looks at the employment impacts of Canada’s existing bilateral trade relationships with East Asia, including Japan, China and
Korea and the likely employment effects of the proposed Canada-Korea Free Trade Agreement.
“In total, our current trade with East Asia results in the net loss of over 180,000 Canadian jobs,” the study indicates. “Most of this job
loss is due to our trade with China, but significant jobs losses also result from our current trade with Korea and Japan.”
“Strategic, high-technology sectors such as computers, machinery, and transportation equipment (especially motor vehicles) have
experienced the worst of the job losses – contrary to the traditional assumption that only ‘low-technology’ sectors such as clothing
and footwear will lose out under trade liberalization.”
For more information on this study, as well on the CAW's Canada-Korea Free Trade Campaign, click here
Source: CAW NewsNow