“Lower prices on imports. Larger markets for exports.”
Decline in inflation adjusted average family income.
Shrinking middle class.
Rise of China as a military and industrial power.
As to lower prices on imports, I worked for a country that outsourced its manufacturing in the 1990’s and early 2000’s. Not one cent of the higher margins was passed to customers in price reductions. Instead the cash flow from the higher margins was used to buy back the company’s stock. Financial engineering to benefit the upper 1%.
Here are some hard numbers with respect to trade. Looks like the trade advantage since the pro free trade George H.W. Bush administration took office in 1989 has been shifting to foreign countries.
US trade deficit (goods) 1988: $118 Billion
US trade deficit 2015 (goods): $736 Billion