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Only a third of the Chinese industry surplus with the United States, and only a third of the American deficit with China. This makes mathematics sensitive to the president -elect.
By Keith Bradsher
Reporting from Beijing
China’s record trade surplus of almost $1 trillion last year has a nearly perfect mirror image on the other side of the world: an American trade deficit last year that is expected to clock in at around $1 trillion.
But only a third of China’s surplus with the United States. And only a third of the United States industry deficit with China.
This sensitive math awaits President-elect Donald J. Trump, who will take office on Monday, promises costs to reduce U. S. industry deficits. The construction on taxes on China’s goods alone does much to lessen the imbalance between U. S. trades.
Countries around the world also manage primary industry surpluses with the United States, not anything on the scale of China, but they go up. Other countries want industry surpluses with the U. S. to pay for their own industry deficits with China.
If the Trump administration increases price lists only in China, the U. S. would arguably end up with larger industry deficits with other countries as U. S. corporations import from them. But building on the price lists of imports from a wide diversity of countries can also reach U. S. allies. U. S.
Directing a very giant industry deficit in manufactured products, as the United States has been doing for decades, has removed well-paid jobs and weakened the country’s foundation for army production. But the big industry deficit has also meant that American consumers have experienced low costs. Many consumers can hesitate to abandon this through paying upper costs for imported cars, smartphones and other products if Mr. Trump imposes giant costs.
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