The United States trade deficit with China reached a new record level in 2017. It went up $28 billion to $375.2 billion. Coalition for A Prosperous America CEO Michael Stumo says that’s very detrimental for not only the U.S. economy but also for the global economy.
He’s encouraged Commerce Secretary Wilbur Ross wants to enforce trade agreements and renegotiate both NAFTA and KORUS (the South Korean US FTA). Stumo says however China is a different problem.
Stumo says the U.S. needs to take more aggressive action on fixing the exchange rate issue to bring down the value of the dollar.
Stumo says CPA will be working with other groups to push the Trump administration to take even more tougher action to enforce trade pacts.
