The gap is expected to grow even more despite penalties on billions of dollars of Chinese goods.
The president hasn't really done anything on trade.
Opening up trade with China cost the U.S. 3.4 million jobs, according to a new report.
One of Trump's options, to redress America's horrendous $500-billion-a-year trade deficit, is to impose a tariff. That is
Navarro is right and his opponents are wrong. So it's worth reviewing, one more time, the inescapable basic logic underlying
Instead, the correct solution is to add a VAT, but reduce existing taxes by the amount of money the VAT raises. But (here's
America's trade deficit, which has fluctuated around the $500 billion per year mark for a decade, is real money, period. But free traders persist in "explaining" how it somehow, mysteriously, isn't real, doesn't count, doesn't affect anything important, etc.
The Economic Policy Institute found that currency manipulation is the most important cause of America's massive trade deficits with TPP countries. Trade deficits mean products are shipped to the United States rather than made in the United States. The math is simple.
It may or may not help, but we're going to give it our all.
Other than the occasional bursts of IPhone shipments, it's been all downhill for China this decade.
Discussions of economic issues in policy circles often suffer from a "which way is up?" dilemma; it's not clear what the problem is that needs to be solved. The massive fretting over China's devaluation of its currency last week is one such example.
At a time when income inequality is running rampant in the U.S., workers don't need even more "free" trade agreements that will further strip this nation's economy of middle-income jobs.
Currency manipulation violates free market principals, but for China, doing it makes sense. This potent action by a major economic competitor raises the question of when the United States government is going to stop pretending currency manipulation doesn't exit.
Moves seem well underway in the Republican-controlled Senate to fast-track the vote on fast-tracking -- maybe as early as this coming Tuesday. That would be a pity, since the arguments for not passing the proposed trade deal continue to be worthy of long and slow consideration.