A distinguishing, precedent-breaking characteristic of 's trade policy is its focus on the trade balance.
ADVERTISEMENT. "Balanced trade" was not a term used by the architects of U.S. trade policy.
Particularly with regard to our trade with China, which accounts for the biggest portion of our trade deficit, Trump doesn't buy the orthodox rationale.
So who is right? A closer look at China's global trade pattern suggests that Trump may have a point.
In 2017, China's trade surplus with all of its trading partners totaled around $420 billion, considerably more than its surplus with the U.S. Only a handful of countries have a trade surplus with China, and most of these are commodity and energy exporters.
China's many trading partners have highly diverse trade dynamics and macroeconomic policies, yet the vast majority share a sustained and large imbalance with China.
A favorable deal on China would further burnish the president's positive track record, putting pressure on Democrats to respond with a new and appealing trade policy of their own.
https://thehill.com/opinion/finance/425870-trump-bucked-orthodoxy-on-china-and-it-just-might-work
ADVERTISEMENT. "Balanced trade" was not a term used by the architects of U.S. trade policy.
Particularly with regard to our trade with China, which accounts for the biggest portion of our trade deficit, Trump doesn't buy the orthodox rationale.
So who is right? A closer look at China's global trade pattern suggests that Trump may have a point.
In 2017, China's trade surplus with all of its trading partners totaled around $420 billion, considerably more than its surplus with the U.S. Only a handful of countries have a trade surplus with China, and most of these are commodity and energy exporters.
China's many trading partners have highly diverse trade dynamics and macroeconomic policies, yet the vast majority share a sustained and large imbalance with China.
A favorable deal on China would further burnish the president's positive track record, putting pressure on Democrats to respond with a new and appealing trade policy of their own.
https://thehill.com/opinion/finance/425870-trump-bucked-orthodoxy-on-china-and-it-just-might-work
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