[3. “Our trade deficit has been a dangerous drag on our economy,” Trump says in the new book.
Reality check: The U.S. does run a trade deficit — meaning America buys more from foreigners than it sells to them. But it has been that way since the 1970s. The U.S. has had many great years of prosperity and growth despite the trade imbalance.
For all the focus on America’s trade deficit, imports aren’t a bad thing, economists say. The U.S. is getting a lot of cheap goods. That keep costs down for the poor and middle class. ]
This is one of the most illogical things I’ve read this morning. Because it has existed since the 1970’s it’s okay and Trump is wrong. Oh, and because it brings in cheap goods it helps the poor and middle class. Wouldn’t it be better to provide jobs so they can afford decent goods that don’t fall apart in weeks or poison them?
You’re wrong.
Our trade deficit with China is a relatively recent development.
One short generation ago, America was the premier manufacturer on the entire planet.
Now China makes for than we do. And that is rapidly growing.
Donald Trump is completely right, to raise this issue. We badly need to bring back American manufacturing.