So the question to ask is not, are jobs are being created, but what kind of import export balance do we have in quality as compared to quantity? We ought to ask what is the percentage of manufactured goods being made and being exported as a percentage of the economy?
If the object were only to create jobs we would take a leaf from Milton Friedman story of the Soviet Union in which heavy equipment was not being used to dig a canal but men with shovels. He was told that it provided jobs whereupon Friedman replied, why not have them dig with spoons and create even more jobs.
In a companion article which appeared only a few moments ago it was argued that the low cost of oil is bad for the economy because oilpatch jobs are lost. Many of us pointed out that a low price of oil lubricates the whole economy like a tax cut. The lesson to be learned is that when one monkeys with these matters there are always unintended consequences.
It is unquestioned that our trade policy favors one set of Americans (jobholders and consumers) against another set of Americans (jobholders in other industries). Change the trade deals and you are inevitably going to change the set of Americans who are harmed. It does not come cost free.
Finally, if you want to increase American exports, especially exports of manufactured goods, stop regulating, stop taxing to excess and let manufacturers prosper and export. They hidden cost of leftists' regulations has done untold harm to our export economy.
