Did China Trade Deficit Kill 3.4 Million American Jobs?

By Douglas A. McIntyre Updated Mar 11, 12:54PM EDT · Published Jan 31, 12:45PM EST

Did China Trade Deficit Kill 3.4 Million American Jobs? — © Thinkstock

[cnxvideo id=”508884″ placement=”ros”]The argument continues to be made that America’s trade relationship with China has cost the United States jobs. It is one of the debates at the core of the new administration’s plans to bring jobs that have gone overseas back to America. One research company recently reported that the trade deficit has indeed cost millions of jobs over the past decade and a half.

According to the Economic Policy Institute:

Growth in the U.S. goods trade deficit with China eliminated or displaced 3.4 million U.S. jobs between 2001 and 2015, EPI Director of Trade and Manufacturing Policy Research Robert E. Scott finds in Growth in U.S.–China trade deficit between 2001 and 2015 cost 3.4 million jobs. The trade deficit with China has more than quadrupled since the country’s entrance into the World Trade Organization (WTO), rising from $83 billion in 2001 to $367.2 billion in 2015. This rise has led to job losses in every state (and the District of Columbia) and congressional district.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.