A new poll by the Pew Research Center show that 80 percent of US citizens believe that trade agreements have cost the United States jobs. According to the poll:
“The public sees threats to jobs coming from several directions: Eight-in-ten adults say increased outsourcing of jobs to other countries hurts American workers, and roughly the same share (77%) say having more foreign-made products sold in the U.S. has been harmful. Significant shares also cite increased use of contract or temporary workers (57%) and declines in union membership (49%) as trends that are hurting, rather than helping, workers. At the same time, global markets for U.S.-made products are seen as helpful for workers by 68% of adults. And seven-in-ten say the rise of the internet and email has been a net positive.”
The poll suggests the US public is not fooled by these trade scams that redistribute income from working folks to the rich. And they’re spot on.
According an Economic Policy Institute Study shows that over 2 million US jobs were exported to the eleven nations participating in the Trans Pacific Partnership (TPP) in 2015. That doesn’t count China, since it is not a part of the as of yet not approved TPP.
The U.S. trade deficit with China was $365.7 billion in 2015, or about double what it was with the TPP nations. This is a new record, up slightly from last year’s record of $343 billion. Counting the trade deficit with China suggests US companies exported at least 4 million more jobs in 2015, for a total of over 6 million jobs in 2015.
At least one study suggested US corporations have exported 26 million jobs since 2000. The EPI study for jobs loss in 2015 coupled with the US trade deficit with China suggests this is very likely, and perhaps even understates the job loss numbers.
That’s why Americans have wised up to these income redistribution scams falsely marketed as trade agreements. They may not know the exact number of jobs lost, but given that the current economic expansion is the weakest since the Great Depression, most people can see and feel that something has gone terribly wrong with the US economy.