Trading with China doesn’t make the American economy a loser
Shocking News! Trade with China Supports U.S. Jobs
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The presidential debate yesterday moved to trade with China, with the usual rhetorical suspects—including “outsourcing” and the “trade deficit”—taking center stage. President Obama announced that his Administration had filed a complaint against China with the World Trade Organization. But a groundbreaking new report from Heritage proves that importing goods from China supports American jobs here at home, completely turning political wisdom on its head.
Importing clothes and toys from China helps to support more than half a million American jobs, the report reveals—in stark contrast to claims that trade with China costs jobs.
Heritage’s Derek Scissors, Charlotte Espinoza, and Ambassador Terry Miller analyzed data in a completely new way, showing that “the value added to imports from the time of entry into the country to the time of final purchase by consumers can be used to estimate how many jobs are being supported by imports.”