Ever wonder how China feeds its massive population of 1.4 billion? China’s growing population is increasing its appetite for U.S.-grown food. Discover how China’s food imports have risen between 2005 and 2015 from just $6 million to over $300 million by exploring this interactive chord chart.
You probably know the stories of college student entrepreneurs who made it big, from Mark Zuckerberg’s Facebook and Bill Gates’ Microsoft, to the founders of Dell, Google, and Yahoo. I might not walk among these giants, but in the early 1990s, I ran a small biomedical supply company — out of my dorm room, where we managed to go global.
Americans like to play to win. When it comes to international trade, however, we shouldn’t use the size and trend of the national trade deficit as a way of scoring trade policy. It’s like using the size of players’ salaries to evaluate whether you had a winning season.
While the 2016 presidential election was not about trade per se, it is clear that new U.S. political leadership and many in the American public would like to look at trade differently – a change in perspective, if you will – including who we do trade deals with, whether trade deficits or surpluses matter, and whether Congress or the Administration is in the driver’s seat on trade.
With $373 billion invested in our economy, it’s no wonder that Japan has an interest in maintaining close economic relations and seeing the U.S. economy succeed. When Japan’s Prime Minister Shinzo Abe meets with President Trump this week, Abe is expected to present his “U.S.-Japan Growth and Employment Initiative,” a gesture that reflects that commitment.
Helping one set of manufacturing workers can put others in harm’s way. For example, anti-dumping duties on primary metals might help 400,000 metal workers, but it also disadvantages 6 million other manufacturing workers, whose families and communities equally value their jobs.
Sure, it’s good when American companies export goods and services to the world. But imports make many American-made products more competitive as well as enriching our lives as consumers – they are part of the secret sauce of what makes our economy work so well.
If the Trump Administration is serious about applying a 20 percent tariff on goods from Mexico to pay for new construction on a wall along the United States and Mexico, it’s the United States that will pay, not Mexico. And the bill could come in as much as 900% above cost.