> Trump says ‘bad policies & leadership” to blame for trade deficit and job loss - Jeinrevo

Trump says ‘bad policies & leadership” to blame for trade deficit and job loss


Although Mr Trump did not specifically mention his plan to impose tariffs on steel and aluminum which has caused a worldwide stir and possible trade war, the president no doubt defended his decision to impose hefty tariffs as a way of balancing the trade imbalance that has characterized U.S. trade with other countries over the years. Reuters.

U.S. President Donald Trump Wednesday blamed what he called “bad policies & leadership” for the massive trade deficits and loss of more than 55,000 factories and 6,000,000 manufacturing jobs since the George W. Bush (senior) days. Mr Trump also complained about the 800 billion dollars trade deficit the U.S. recorded in 2017.

“From Bush 1 to present, our Country has lost more than 55,000 factories, 6,000,000 manufacturing jobs and accumulated Trade Deficits of more than 12 Trillion Dollars”, Trump tweeted. “Last year we had a Trade Deficit of almost 800 Billion Dollars. Bad Policies & Leadership. Must WIN again!  #MAGA”

Although Mr Trump did not specifically mention his plan to impose tariffs on steel and aluminum which has caused a worldwide stir and possible trade war, the president no doubt defended his decision to impose hefty tariffs as a way of balancing the trade imbalance that has characterized U.S. trade with other countries over the years.

Mr Trump announced last week that he would sign a measure that would impose a 25 percent tariff on steel imports and 10 percent tariff on aluminum imports from around the world triggering a response from the EU which has vowed to reciprocate by proving it could act in kind.

Although some Republicans have called on him to scale down on his plan, Mr Trump said he is not backing down. The White House said Mexico and Canada may be exempted from the tariff plan after Trump hinted that could be down as long as the U.S. could negotiate a good NAFTA deal.


Canada and the EU are the top exporters of steel to the United States, exporting over $450 million worth of products as of January 2018, according to the Commerce department. They are closely followed by South Korea which exports more than $250 million and Mexico which exports over $200 million during the period. China, Russian and Turkey are at the bottom – exporting less than $100 during the same period.




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Trump says ‘bad policies & leadership” to blame for trade deficit and job loss Trump says ‘bad policies & leadership” to blame for trade deficit and job loss Reviewed by Bassey Akpan on March 08, 2018 Rating: 5

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