It took far too long for U.S. poli- cy makers to recognize the damage that China’s unfair currency and trade policies were doing to two industries vital to Ohio: steel and rubber.
And even when there was recognition of the danger, the responses were inadequate to save the jobs of tens of thousands of Americans.
Now there is a new area of concern, an area once again of special interest to Ohio and the Mahoning Valley: auto parts.
U.S. Sen. Sherrod Brown of Ohio was among four rust belt senators and others who released three reports Tuesday that showed the historic and present effect of China’s trade policies and U.S. inaction on the issue.
Among the startling numbers: Since the U.S. established permanent normal trade relations with China and China joined the World Trade Organization in 2001, the U.S. deficit with China on auto parts trade has increased nearly tenfold, from $1.03 billion in 2001 to $9.95 billion in 2011.
Billions of dollars in imported goods every year translate to tens of thousands of jobs lost at home.
To read the rest of the article, click on the source link above.In a decade, China’s share of auto-parts market explodes »