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82% of US Off-shored US Manufactures in China Report Tariff Pain americanthinker.com/blog/2019/05/8…
President Bill Clinton called it a “good day for America” on May 24, 2000 when he successfully convinced the U.S. House of Representatives to award China permanent normal trade relations under the rules of the World Trade Organization.
Clinton argued: “In 10 years from now we will look back on this day and be glad we did this. We will see that we have given ourselves a chance to build the kind of future we want.”
Although China/WTO was championed as an opportunity to U.S. companies to compete for the business of over 1.3 billion emerging Chinese consumers, the vast majority of AmCham members operate off-shored production facilities for export back to the U.S.
As a result, U.S. imports from China from 2001 to 2015 increased from $102.3 billion in 2001 to $483.2 billion in 2015, while U.S. exports to China during the same period only grew from $19.2 billion to $116.1 billion.
It is generally accepted that between 2001 and 2015, the WTO deal with China cost about 3.4 million American jobs, with about 74.3 percent of losses due to U.S. companies off-shoring production jobs to China for cheaper labor and lower taxes.
Approximately 33.2 % are canceling further investments in China and 40.7 % of respondents have already relocated manufacturing facilities outside China. The most popular manufacturing relocation spots have been 24.7% in Southeast Asia, 10.5 % in Mexico and 6 % back to the US
The majority of AmCham members understand that the Trade War has created a severe deterioration in bilateral U.S. and China relationships. Although 42.7 percent of members would support a quick deal for a return to the status quo....
53.3 percent of members indicate they now “favor negotiations continuing towards a deal that addresses structural issues allowing them to operate on a more level playing field.”
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