I know they are good at throwing stones, but what would they do as a solution? There was a big "fair’ trade movement from the left a couple of years ago, but that seems to have gone away since Trumps wants fair trade. So, what are the dems running on this cycle?
China supplies the US with things they can make for cheaper because of cheaper labor there. Unless the US decides to drastically lower what US laborers earn, there is no “solution” to the trade deficit.
The answer is for the US to continue to diversify into areas that are hard to duplicate with cheap labor.
Regarding trade deficits, my college econ professor said, “Would you rather be the guy who sews expensive shirts or the guy who buys expensive shirts?”
For goods yes. So instead of worrying about the ones you fall behind on strengthen and grow the ones you excel at.
You guys run a surplus on services.
It is the people with vision who invent and look to the future that will fix the trade balance. Going backwards with tariffs will only harm everything.
Service jobs pay dick. that’s why there’s a push to increase min wage. If more people had skills that’d would get them jobs paying more than the minimum, no one would be agitating about raising min wage.
Also, I dont see any campaigning to raise the wages for those making 2x min. Will those jobs still pay the same? If so, then you’ve just cut wages for millions of people.