The Smoot Hawley Act was passed raising tariffs high US trade and economy crumbled we know why US trade now equals a quarter of the GDP We trade most with China and they push the rules across the sea WTO does crackdown but not quite enough for me The CEPR found trade lowered conflict probability. for every job saved in the steel and auto industry.
It costs consumers $1.5 million in our economy German trade rises but manufacturing jobs go low Surpluses are largely currency and an investment flow Let’s make smart changes that are good for you and me: training and a safety net for all of our autonomy.
Trade with Mexico, China, and other countries has helped to improve world security through making Mexicans and the Chinese feel more positively toward the USA in many surveys.
1. Sources: World bank https://data.worldbank.org/indicator/NE.TRD.GNFS.ZS
2. U.S. Dept. of Commerce International Trade Administration.
3. Bloomberg says over 85% of U.S. WTO cases won. https://www.bloomberg.com/news/articles/2017-03-27/trump-isn-t-a-fan-of-the-wto-but-u-s-lawyers-often-win-there
4. CERP : https://voxeu.org/article/trade-andor-war
5. Institute For International Economics Long Source: See carbon steel https://fee.org/articles/each-saved-job-costs-consumers-half-a-mil/
6. Krugman : https://krugman.blogs.nytimes.com/2016/12/27/tariffs-and-the-trade-balance-
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