Title: U.S.-China trade scorecard: advantage China
Headings: U.S.-China trade scorecard: advantage China
U.S.-China trade scorecard: advantage China
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Content: But that figure pales compared to the $463 billion in imports from China. The result is a U.S. trade deficit of $347 billion, the largest of any U.S. trading partner. MORE: Why trade continues to make headlines under Trump
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Yet it is not all one-sided from China's standpoint. China has used its trading surplus to create a massive manufacturing sector that has pulled hundreds of millions of Chinese from poverty and made them consumers who increasingly are interested in American goods and services. In addition, China is among the most aggressive foreign investors worldwide. Here are key issues involved when the two leaders discuss their trade relationship: JOBS, JOBS, JOBS
Trump complains that U.S. companies’ eager migration of manufacturing to cheap-labor Chinese factories — where wages average about 80% less than in the U.S. — has cost too many American jobs. Trade skeptics say the numbers back him up. The U.S. has lost 3.4 million jobs between 2001 and 2015 due to the trade deficit with China, and about three-fourths were in manufacturing, according to Robert Scott, an economist at the liberal think tank Economic Policy Institute.