Question
Since 2001, US exports to China soared by 500 percent, doubling the growth of US exports to the rest of the world. Overall, USChina trade
Since 2001, US exports to China soared by 500 percent, doubling the growth of US exports to the rest of the world.
Overall, USChina trade supports approximately 2.6 million US jobs and adds 1.2 percent to US GDP.
However, not all is rosy. Despite export success, the United States, due to consumers' desire for cheap imports, runs the world's largest merchandise trade deficit.
In 2015, it reached a $760 billion (5 percent of GDP). The lion's share of the deficit, $334 billion (1.9 percent of GDP), was contributed by merchandise trade deficit with China.
Two US presidents, one from each major political party, to fulfill campaign promises, threaten tariffs to restrict imports that hurt American workers.
- In your opinion, does the potential of saving some jobs in the manufacturing industry outweigh the economic risk of alienating the largest trading partner of the United States?
- Tell us why.
- What is one point from the opinion you don't agree with that you can understand as a valid reason for the other opinion?
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