Most people are not experts on the subject of trade so perceptions of trade relationships in the public eye are still a crucial indicator of…[how one’s country is doing vs. each other]. If the majority of Americans think they are getting the short end of the stick on international trade, this sentiment ultimately affects how politicians campaign, how policy decisions are made, and the success of the wider economy.
The original article has been edited here by munKNEE.com for length (…) and clarity ([ ])
In today’s chart, we break down the data from a recent Gallup poll on how Americans view the country’s trade relationships.
Most economists actually think that trade deficits are less important than they appear, but this trade gap is also visceral for many people. After all, U.S. exports barely make a dent in the mix, and this sends a message that America is “losing”.
Between the above trade deficit, intellectual property issues, and jobs going overseas, it’s understandable why the perception of Chinese-U.S. trade is under fire in terms of public sentiment and, with the start of the recent trade war, the view on China could sour even further.