The U.S. trade deficit soared last year, growing by double digits, in bald contrast to President Donald Trump’s pledge to cut the trade deficit, even as the actions he has taken will make it much worse. America’s working people demand a new direction in trade to create jobs, raise pay and improve our communities.
Message of the Day—Trump’s Trade Deficit Balloons
More than 93,000 jobs were offshored from the United States in 2017, as America’s trade deficit grew higher than any time since the Great Recession, a reality that contrasts sharply with promises made by President Donald Trump.
- Numbers don’t lie. The deficit grew to $566 billion last year, up 12% from 2016, and the highest in nine years, after Trump promised to shrink it.
- Broken promises. Trump promised, but failed, to end China’s currency manipulation, stop unfair trade in steel and aluminum, and reverse the tide of lost jobs due to trade.
- Worse to come. Trump’s tax bill opened the floodgates to offshoring, by giving companies a permanent tax holiday on offshore profits.
America’s workers want new rules to create jobs and raise pay, and we’ll organize and mobilize to win them.