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The America/China Trade Was has Stunted Job Growth

America is in a pretty not-great place economically. The tariffs from our trade fight with China, our declining soybean exports, and the slew of other issues have resulted in a 10-year high for our trade deficit. And now, we’re starting to see it in our jobs as job growth is declining.

According to the Commerce Department, the trade deficit has increased to a total of $55.5 billion. This is the fifth month in a row that the deficit has risen. The last time it was this high was during October of 2008.

The primary source of this increase is from the ongoing trade war between China and the United States. The goods trade deficit with China surged 7.1 percent to a record $43.1 billion in October when imposed tariffs were placed on $250 billion worth of import goods. And in response, China has placed similar tariffs on American goods like Soybeans and automobiles.

These actions have caused a number of American business to build factories in China in order to bypass the import tariffs. This includes electric automaker, Tesla. They cited having to add nearly $20,000 in taxes for China-sold Tesla Model 3s built in America.

We’re now losing jobs because of our current situation. And from the way things look, it won’t improve soon. Factory workers in America may want to consider learning about self-sufficient living if they haven’t already. Their jobs may not last long.

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  1. Joe America December 10, 2018

    Strangely enough the exact opposite has happened, trade is up in-spite of the tariffs. These things are hard to predict sometimes. But it’s not Trump who is China’s biggest problem it’s Xi. Xi is clamping down big time trying to hold China together. Foreigners are leaving China in droves as they see the writing on the wall, literally with all the new party propaganda. Supply chains are relocating to Vietnam, India, Mexico, USA even Africa. As the US is the biggest customer and the EU is in turmoil Trump holds all the cards. And the first thing Trump asked Xi for in Buenos Aires, we need to do something about fentanyl.

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