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Only one-third of China’s industry surplus with the United States, and only one-third of the U. S. deficit with China. This makes the math sensitive to the president-elect.
By Keith Bradsher
Reporting from Beijing
China’s record trade surplus of almost $1 trillion last year has a nearly perfect mirror image on the other side of the world: an American trade deficit last year that is expected to clock in at around $1 trillion.
But only a third of China’s surplus with the United States. And only a third of the U. S. industry’s deficit with China.
This sensitive mathematics awaits President -elect Donald J. Trump, who will assume his tasks on Monday, promising costs to reduce industry deficits in the United States. Construction in taxes only in China’s goods is long to reduce the imbalance between US exchanges.
Countries around the global also manage giant industry surpluses with the U. S. Not anything on China’s scale, however, they go up. Other countries want industry surpluses with the United States to pay for their own industry deficits with China.
If the Trump administration raises tariffs only on China, the United States may find itself with bigger trade deficits with other countries as American companies import from them instead. But raising tariffs on imports from a wide range of countries could hit American allies.
Running a very giant industry deficit in manufactured goods, as the United States has been doing for decades, has eliminated good-paying jobs and weakened the country’s foundation for military production. But the industry’s large deficit has also meant that U. S. consumers have experienced low costs. Many consumers may be hesitant to abandon this by paying premium costs for imported cars, smartphones, and other products if Trump imposes giant costs.
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