Presumptive U.S. Republican presidential nominee Donald Trump talks tough on foreign policy and global trade, promising to make “America great again."
Among Trump’s headline-worthy promises: forcing Mexico to pay for a giant border wall and raising trade tariffs against China by nearly 50 percent.
China enjoys a huge trade surplus with the United States, which in 2015 bought a record $482 billion worth of Chinese-made goods. China, on the other hand, took in only $116 billion worth of U.S. exports. To correct the $366 billion trade deficit, Trump has proposed raising tariffs against China from about 1.5 percent right now to as much as 45 percent.
The real estate mogul has accused China of “robbing” the United States.
“We have a $500 billion trade deficit with China, and we're going to turn it around. And we have the cards. Don't forget: We're like the piggy bank that's being robbed. We have a lot of power with China,” Trump said.
It’s an attractive and bold proposal to some of the millions of Americans who have lost jobs to lower-paid workers in China. Labor organizations blame trade and globalization not only for the massive job losses, but also for contributing to lower pay and living standards in the United States. Even nonpartisan groups such as Public Citizen's Global Trade Watch say pending U.S. trade deals with Asia and Europe remain a big threat to American jobs, wages and patents.
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