The trade deficit means we export our wealth overseas and we’re making our children face a future that is less than ours.
It’s time to stop the bleeding and it’s time for the USA to insist on fair trade because the lie of ‘Free Trade’ has been a lie for all of my life.
Ok Stossel, let’s import a bunch of foreign political commentators and pay them 1/8 what you are making. Let’s see how you feel about free trade, when it’s your ass on unemployment.
Core industries is how we won WWII.
We could not do it today.
Those factories that were repurposed for making guns, tanks and other weapons are gone.
I usually agree with John, but not this time.
Keep up this crap and the waves of people leaving will turn into a deluge.
Fair trade, negotiated between 2 willing countries will result in less inequity.
Go Trump.
Really? Jump on the Indiana Turnpike and drive to Chicago and take a peek at what you see along the road. Gary, IN, used to be a thriving steel town and is empty now.
Actually, last year's trade deficit with China was $375 billion. But even if it were $800 billion, who cares?
Clearly, this clown doesn't understand the impact of a persistent trade deficit. Taken to the extreme and not corrected, you end up looking a lot like Venezuela. Also, Trump is not killing off trade with higher tariffs, he's arguing for a level playing field...big difference. This idiot's talking like it's a ban on imports, which it is not.
What he doesn't account for is that the Trump administration's tariff policy is more about politics and trade negotiations than it is about tariffs.
To John Stossel, the guy that makes his money with his mouth, trade deficits don't matter.
Each billion dollars in trade deficits equals 6,000 jobs that went out of the USA.
So while John Stossel keeps his 7 figure job, talking about trade deficits being trivial, tell it to the ex-glass worker from Jeannette Glass, or the ex-steel worker from J & L Steel or Bethlehem Steel, or the ex-plate glass maker from PPG.
Yea, maybe some of these guys are working at Home Depot, MickeyDs or Wendys, they are making 35%-40% of what they used to make.
Hey johnstossel, Piss Off you arrogant, obnoxious, low life prick.
John Stossel’s argument ruled the day for decades and decades.
I never agreed with it, and now we are going to find out who’s right, John Stossel or the guys I’ve always believed in.
Ain’t Trump great?
Trump isn’t an ideologue, so I’m frankly not worried about a trade war. He carved out exemptions for Canada and Mexico anyways.
Sometimes, Stossel makes sense - this ain’t one of them times....
In theory, genuine free trade would increase overall world output. But the theory doesn't guarantee every country would benefit from that increase in output. In fact countries like ours would likely suffer.
Jobs would move to countries that have excess labor. Wages would start to equalize between nations. US wages would fall while China wages would rise.
Think about that. US wages would fall until they are no better than the rest of the world.