Trade Imbalances with China Not Eased with Recent Economic Talks

Posted by Ann on December 13, 2007

Two days of economic talks with China did little to solve massive trade deficits, at a rate of $256 billion annually. The record levels of imports from China are led by products in the toy, game, and television sectors. This growing deficit has triggered a backlash in Congress, with pending bills aimed at penalizing China for what is seen as unfair trade practices.  The US has lost 3 million manufacturing jobs since the year 2000. US Commerce Secretary Carlos Gutierrez cautioned, ““It’s a tremendously complex relationship, and to think somehow that could be solved with a simple act of protectionist legislation I think is a mistake,”

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Categories: Finance
13Dec

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