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- Jan 21, 2017
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With his “America First” policy, Donald Trump has increasingly undermined international trade law. And that comes with huge costs not only for our trading partners but also for the United States itself. Farmers in particular, have suffered major losses due to the retaliatory measures especially of China, and they're vocally calling for a removal of the tariffs. Two years ago, economic research institutes had forecast significant job losses in the United States as a result of the steel and aluminum tariffs as well as the potential import tax on automobiles.
What Trump has done is roll back 50 or 60 years of progressive trade liberalization. These were international linkages that didn’t exist back in the 1950s. Undoing that is very, very economically dangerous. One of the biggest casualties has been manufacturing jobs
A better strategy would be for the US to consider investing more in our ailing infrastructure as well as education and training to strengthen our international competitiveness.
He abandoned trade deals that favored the other side by a long shot. Of course, those lousy trade deals weren't difficult for past politicians to make since they were so one sided. Trump has set about making our trade deals much more balanced and fair. Fair to the US and to the trade partner. BTW: unemployment is just over 3%. Farmers and manufacturing benefit greatly from the Phase 1 China deal.