>>Somebody hasn’t been listening.<<
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Here’s the simplicity of it:
—$500 billion ANNUAL trade deficit with China
—When this is balanced, by tariff or by voluntary changes in China, one of two things will occur:
1. The goods are built here (iPhones, or whatever); or,
2. Something else is built here and sold back to them.
SIMPLE, eh?
In the meantime, the tariffs that are paid are a tax that can be used to bridge the gap for MUCH LOWER CORPORATE TAX here-—the additional CARROT to bring back our jobs.
The reality of it is this.
Countries extort technology and jobs and intellectual property from the U.S via this so called Free Trade. What we get is over compensated executives, higher unemployment, enriched politicians and lobbyists and a burgeoning lower class.
This is great at first as cheap goods flow in and people start owning great stuff. But then the unemployment starts to catch up. The education opportunities dry up or become prohibitively more expensive, then people just getting by in the middle class fall to the lower class — need aid for insurance, food stamps etc ...
Once this cycle starts how do you stop it?
And just WHERE can China SPEND this money?