So over the years of the Obama administration there was a gradual recovery in manufacturing jobs and hours worked. economy began to recover in general and the manufacturing industry began to recover. There was a big stimulus package, there was an auto industry bailout, and the U.S.
Well, Trump, as most people know, inherited a very long recovery after the 2008 financial crisis and the recession of 2009. Turning to manufacturing jobs you asked about manufacturing jobs. By the way, this year the trade deficit is on track to again set a record as the worst ever in U.S. So that’s a good first indication of how Trump scores on his trade approach. The deficit in goods alone- think manufactured goods, think inputs, intermediate goods- all of those things that you can touch and handle, the things that would bring jobs back, has actually been the worst in the last couple of years that it has ever been in U.S. The overall trade deficit, including both goods and services, has gotten worse every year of Trump’s presidency than it was when he took over from Obama. And on that scorecard, on the trade deficit, it’s a fail. He likes to refer to that as what will judge whether he’s been successful. POLASKI: Well, let’s start with the trade deficit, David, because that’s actually President Trump’s preferred scorecard. What do you think is the overall scorecard for this approach? trade policy, and he’s used tariffs and new trade agreements to try to reduce the trade deficit and bring back manufacturing jobs. President Trump had specific criticisms of the results of U.S. Glad to join you.ĭOLLAR: So let’s start with the big picture. workers- and how to fix it.” It’s a very relevant topic as we head into our election. She’s one of the lead authors of a new study “ How trade policy failed U.S. Today my guest is Sandra Polaski, a senior research scholar at the Global Development Policy Center at Boston University. The geography of prosperity: How to help the areas lagging behindĭOLLAR: Hi, I’m David Dollar, host of the Brookings trade podcast Dollar & Sense. How Trade Policy Failed US Workers – And How to Fix itĭid Trump’s tariffs benefit American workers and national security?Ī progressive case for free trade, immigration, and global capital So, how have his policies affected American workers? What impact did President Trump’s tariffs have on important swing states like Ohio and Michigan? To answer these questions, David Dollar is joined by Sandra Polaski, a senior research scholar at Boston University’s Global Development Policy Center. He lambasts “bad deals” that favor America’s trading partners and since taking office has attempted to use tariffs and new trade agreements to reduce the trade deficit and bring back manufacturing jobs.
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