'If Trump blows up NAFTA, he’ll blow up his reelection' via PostOpinions
By Editorial Board March 10 at 6:18 PM THE U.S. economy is in excellent shape, a disappointing February job growth report notwithstanding. The unemployment rate is only 3.8 percent; inflation is under control. Both real wages and productivity growth have recently improved. The number of people in the United States working in manufacturing is 12.8 million, up 1.4 million from its Great Recession low point.
Lesson: Large economic forces such as federal fiscal policy, currency fluctuations and the like have as much or more to do with annual trade deficits. That puts the current trade policy debate in proper perspective. The apparently impending deal between Mr. Trump’s negotiators and China’s reportedly features Chinese promises to buy more U.S. grain and natural gas, along with pledges of greater equality for U.S. businesses operating in China.
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