Trade Imbalances with China Not Eased with Recent Economic Talks
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