First, there is no such thing a free trade unless you have the right not to trade and to adjust one's market and national economy with appropriate and democratically determined tariff policies fit for domestic conditions. Otherwise, what you have is forced trade, and forced "interdependency" translating into an abject dependency upon the greater-slave and least democratic nations -- i.e. China.
Just look at the labor arbitrage gambit -- where corporations move out of the First world and then get tariff free re-entry for their slave-generated products -- creating massive unemployment, immense societal adjustment costs, an ever greater concentration of corporate power, abject dependency for many, and the ruinous transit of "goods" via fossil fuels over great distances creating more disastrous climate change. The "external" costs completely swamp the "benefits" of a very costly "free" trade.
We don't need more free trade, we need a re-balancing of economies and more localization of production to rebuild independence, the middle classes, and safeguard the environment. Companies can get their global markets by producing within each country but they should not gain tariff-free re-entry into the very countries from which they have moved production.
Globalization is a cancer of fascist corporate monoculture producing the worst of worlds and the least of freedoms -- for everyone except the giant global corporations gaining ever more power and capital to crush labor around the world and return us to the nineteenth century of despair, dependency, and depression.
The World Trade Organization is a fascist setup wherein we do not elect our representatives, and have no appeal from their secret decisions. We should abrogate any such treaty built upon undemocratic principles, and restore the right of the vast wage-laboring majority to define their own economies and societies.
Without tariff freedom all nations are forced into the idiotic debasing of their currencies "in order to compete." Compete with whom? On what terms? To what end? We, the people, the vast wage-earning majority, have no say in this neo-slave global corporate gulag.
The simple freedom of appropriate tariff levels is nothing compared to the Euro union disaster -- wherein if Greece simply regained their own currency and trade freedom there would be no problem for all these other nations and bankers and markets. It is because of this freedom-less trade regime, and the reliance on currency valuations and trading serving to profit big banks, that we have such market-roiling problems today.
We don't need more free trade, we need a complete up-ending of the undemocratic trade and treaty process or, at the very least, a time-out and moratorium in the existing fascist trade regime to give all nations a freedom and ability to re-adjust as their populations and economies require. Imagine that! Real trade freedom would end the currency wars and free market destroying concentrations of wealth and productive power now proceeding to impoverish the many and empower the few.
Free markets? What a joke, we don't have free markets, we have global corporate fascism denying the wishes of the majority and serving the interest of the few. The twin evils of fascist trade policy and privatized debt-money are killing us and leading to costly debacles -- all due to "free trade."