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Good Jobs (16) Gary Clyde Hufbauer & Daniel H. Rosen

| Mar 11, 2022

“Extrapolating the US ITC’s estimate of the one-time percentage import and export trade changes for 10 years, the EPI asserts another 817,000 US jobs will be eliminated through PNTR and Chinese membership in the WTO. The EPI’s calculations are built on an absurd extrapolation of an exaggerated bilateral trade deficit [….] A larger US trade deficit in manufactured goods is historically associated with higher manufacturing output [….] Even if, contrary to evidence, the overall US manufactures trade deficit was associated with lower manufactured output, the bilateral China deficit would have no independent significance [….] An open economy enables the United States to create better jobs, since US exports embody more skills and higher wages (about 15 percent higher) than US imports.12  US trade is a race to the top, not a race to the bottom.”

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Wells King is the research director at American Compass.


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