China

In 2000 President Clinton welcomed China into the WTO. China agreed to the rules including reducing tariffs and guaranteeing intellectual property rights but they have ignored the rules and nothing has been done about it. Consumers will benefit from lower prices Corporations profited from the billions of new customers and producing products in China at lower cost. Labor unions opposed the deal as they saw manufacturing jobs leaving the country. In the first ten years six million manufacturing jobs were lost about half from automation and half to China. Who are the winners in this deal? In 2019 the US exported $163 billion from China and imported $471 billion for a trade deficit of $308 billion. Advantage to China. To this day they continue to steal intellectual property and have high tariffs on US imports. The US had low import taxes on Chinese goods until Trump changed that. Will Biden reverse this?