Millions of Americans have lost their jobs due to the massive trade deficit with China, a trend that continues despite campaign promises to reverse the economic imbalance that appear to have been forgotten by the White House.
Nearly three-fourths of the lost jobs were in manufacturing, and every state and congressional district saw job losses due to a growing trade debt with Chine.
Previous reports showed 3.4 million U.S. jobs were lost between 2001 and 2015 due to the trade deficit with China, including 2.6 million manufacturing jobs that were displaced.
The trade deficit in continued to grow under the new administration. A recent Commerce Department report shows more money flowing out of the US to China, as trade imbalances rose throughout the year.
The U.S. trade deficit jumped in 2017 as imports from China and other suppliers hit a record highs, showed a Commerce Department report released recently.
“President Trump talked a big game about steel and aluminum during the 2016 campaign. We were hopeful his administration would make good on its promise to get tough with China after the president announced national security investigations into these imports,” said a memo from the Alliance for American Manufacturing. “The administration even pledged action by July 1 but that timeline has come and gone.”
“Trump also issued a series of executive orders early in 2017 designed to boost manufacturing, including one that gave the federal government 220 days to research ways to strengthen Buy America laws. That timeline has since passed, and the report still isn’t out,” the Alliance for American Manufacturing statement added.
The United States long has lectured China on technology transfer, intellectual property, and innovation, without any meaningful change.
Carrier, which struck a deal with Trumpto keep jobs at its Indianapolis plant, will make a final round of layoffs at the facility, where more than 200 employees will lose their jobs this month. Less than four months after it laid off nearly 340 employees at its Indianapolis factory, Carrier said that 215 employees will be terminated on Jan. 11. The layoffs come as Carrier is moving its fan coil production to Monterrey, Mexico.
Carrier’s parent company, United Technologies Corp., also plans to lay off another 700 workers at a factory in Huntington near Fort Wayne.
“Trump came in there to the factory last December and blew smoke up our asses,” said Brenda Darlene Battle, a longtime Carrier employee. “He wasn’t gonna save those jobs.”
Shortly after Trump’s election, Carrier reached a deal with him and state officials to keep about 1,000 jobs in Indianapolis for 10 years in exchange for up to $7 million in various incentives — eliminating 1,400 jobs by moving operations to Mexico.
During his recent trip to Asia, Trump acknowledged that Americans cannot blame China for taking advantage of us.
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