Saturday , 29 February 2020

How Americans View Recent Trade With Canada & China

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 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.

…It’s clear from the above data that most Americans think they are getting the short end of the stick with China, with 62% of respondents describing the relationship as unfair and, with China being America’s largest trading partner, this negative sentiment is obviously extremely meaningful.
The balance of trade that the U.S. has with China is also crystal clear: in 2017, the two countries traded $636 billion of goods, but the vast majority of this number comes from Chinese imports into the United States.

Trade gap

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.