09.30.2020 0

Trump’s right, China ate Joe’s lunch. Trade deficit with China was higher in 2015 when Biden was VP.

Biden is wrong, trade deficit w/ China was higher in 2015 when Biden was VP:

Former Vice President Joe Biden in the first presidential debate versus President Donald Trump falsely claimed that the U.S. trade in goods deficit with China is greater now than it was four years ago. It’s just not true. In 2019, the trade deficit with China was $345.2 billion, down from its 2015 level of $367.3 billion, a 6 percent drop, according to data from the U.S. Census Bureau. That came as the President’s 25 percent tariffs on $250 billion of Chinese goods and another 7.5 percent on the remaining $300 billion of goods were taking effect. Biden voted for NAFTA in 1993 and permanent normal trade with China in 2000. As a result, between 2000 to 2016, the U.S. had a $4 trillion of trade in goods deficit with China, costing America more than 6.1 million manufacturing jobs between 1998 and 2010 according to the Bureau of Labor Statistics. President Trump knocked Biden in the debate, telling the former Vice President, “China ate your lunch, Joe.” He’s right.


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