Biden is likely to decide sometime before the end of the year whether to keep billions of dollars worth of United States tariffs on China-made goods.
from Sen. Josh Hawley would do the same.3.7 million American jobs from the economy — 2.8 million of which were lost in American manufacturing. During that same period, at least 50,000 American manufacturing plants closed down.
Weeds grow in the parking lot of the closed Culp Weaving plant in Burlington, Noerth Carolina, on June 8, 2009. The upholstery giant moved to China to take advantage of cheaper labor. Those massive job losses have coincided with a booming U.S.-China trade deficit. In 1985, before China entered the World Trade Organization , the U.S. trade deficit with China totaled $6 billion. In 2019, the U.S. trade deficit with China totaled more than $345 billion.
While skyrocketing U.S. trade deficits have led to devastation across America’s working- and middle-class communities over the last two decades, tariffs would be a boon for reshoring jobs and boosting wages, studies show. One such study finds that tariffs on nearly all foreign imports would create aboutJohn Binder is a reporter for Breitbart News. Email him at [email protected].
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