Media clips
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America’s trade deficit with China has cost 3.4 million U.S. jobs since 2001 and is a major contributor to widening economic inequality, according to a study released Tuesday by the Economic Policy Institute. Not surprisingly, the manufacturing sector has suffered the most because of America’s lopsided trade relationship with China, losing 2.5 million jobs between 2001 and 2017. But every state and every congressional district has seen job loss as a direct result of the growing China trade deficit, and the study shows that the wider economy continues to be dragged down by the growing deficit. (whole story)
Alliance for American Manufacturing October 24, 2018 -
he United States has a massive trade deficit with China that has ballooned since the world’s most populous nation joined the World Trade Organization (WTO), costing the American economy millions of jobs, and U.S. workers billions in wages, according to an analysis completed by the Economic Policy Institute (EPI). A model run by the EPI, a non-partisan think tank that advocates for low-and-middle income workers, examined the impacts of trade by subtracting the job opportunities lost to imports from those gained through exports. While imports from China have soared, exports to China have not increased by a similar magnitude. The result, therefore, is a loss of 3.4 million jobs in the U.S. between 2001- the year China joined the WTO – and 2017. Job losses have been across the country, while the manufacturing sector has been particularly hard hit. The EPI estimates that 2.5 million manufacturing jobs were lost between 2001 and 2017, about 75 percent of the total losses. (whole story)
Fox Business October 24, 2018 -
A “massive” trade deficit with China has resulted in the lost of millions of jobs in the U.S., but California has been the hardest hit state, according to a study released Tuesday by the Washington, D.C. think tank Economic Policy Institute. To determine how the trade deficit has impacted all 50 states, researchers examined “the job impacts of trade by subtracting the job opportunities lost to imports from those gained through exports.” (whole story)
North Hollywood Patch October 24, 2018 -
The US trade deficit with China, which has ballooned since 2001, is responsible for the loss of millions of American jobs, according to a new study. More than 3.4 million US jobs have been eliminated since Beijing joined the World Trade Organisation 17 years ago and has added over US$100 billion to the trade deficit since 2008, according to a report published on Tuesday by the Economic Policy Institute, a non-partisan think tank based in Washington.
About 1.3 million of the job losses have occurred in the last 10 years. (whole story)
South China Morning Post October 24, 2018 -
Washington’s trade deficit with Beijing has increased dramatically in the 17 years since China joined the World Trade Organization (WTO), costing the U.S. millions of jobs across all 50 states, a new report has shown. The Economic Policy Institute, a Washington, D.C-based nonprofit, released a report on Chinese and U.S. trade relations on Tuesday, outlining the impact of China’s rapid growth, which led it to become the world’s second largest economy. Between 2001, when Beijing joined the WTO, and 2017, U.S.-China trade has cost us 3.4 million American jobs, with losses occurring not just in every state, but also in every Congressional district. (whole story)
Newsweek October 24, 2018 -
Growth in the U.S. trade deficit with China has eroded an estimated 3.4 million American jobs over the past 16 years and also explains almost entirely why manufacturing employment has not fully rebounded in the wake of the Great Recession, new research asserts. The report out Tuesday from the left-leaning Economic Policy Institute describes how, since China joined the World Trade Organization in 2001, U.S. imports from the country have surged, while U.S. exports to China have lagged in comparison. (whole story)
Route Fifty October 24, 2018 -
REPORT: TRADE DEFICIT WITH CHINA HAS COST MILLIONS OF U.S. JOBS: The U.S. trade deficit with China has ballooned since Beijing joined the World Trade Organization in 2001, eliminating 3.4 million American jobs, according to a new report from the Economic Policy Institute out this morning.
China has propelled into the second-largest economy at the expense of many U.S. manufacturing plants and jobs, the report shows. “China’s trade-distorting practices, aided by China’s currency manipulation and misalignment and its suppression of wages and labor rights, resulted in a flood of dumped and subsidized imports that greatly exceeded the growth of U.S. exports to China,” the report explains. It also adds that Beijing failed to implement certain policies that would have allowed for a “promised surge” of U.S. goods to China. (whole story)
Politico Pro October 24, 2018 -
Massachusetts is among the state’s hardest hit by the United States trade deficit with China, which has grown by $100 billion since the Great Recession and has stripped nearly 100,000 jobs from the state, according to a new study. The Economic Policy Institute, a Washington, D.C. think tank that Northeastern University economist Barry Bluestone helped co-found, reported in its study released Tuesday that every state and Congressional district has lost manufacturing jobs due to the trade deficit. However, few have been hit as hard as the Bay State, and in particular the Third Congressional District. Massachusetts lost 99,100 jobs from 2001 to 2017, or 2.75 percent of its total workforce making it the seventh hardest hit state in the country from competition with China. (whole story)
State House News Service October 24, 2018 -
If the Trump administration wants to get tough on trade with China and other countries, it must take stronger action to address currency manipulation and misalignment and not just impose tariffs on Chinese goods, according to the author of a new study on the effects of trade with Beijing on U.S. manufacturing employment. “I don’t think the tariffs alone are going to solve our trade problems with China,” Robert Scott, a senior economist with the Economic Policy Institute. (paywall, appears to be whole story)
Inside U.S. Trade October 24, 2018 -
New Hampshire has 24,000 fewer jobs because of the massive trade deficit with China – 3.55 percent of the state workforce in 2017, a larger percentage than any other state in the nation, according to report released Tuesday by the Economic Policy Institute, a liberal think tank. The report blames a $375 billion deficit with China for the loss of 3.4 million jobs in the U.S. manufacturing and high-tech sectors since 2001, when China joined the World Trade Organization. The total includes actual job loss and “job opportunity” loss. (whole story)
New Hampshire Business Review October 24, 2018