“More than 5 million U.S. manufacturing jobs were lost between 1997 and 2014. Most of those job losses were due to growing trade deficits with countries that have negotiated trade and investment deals with the United States.”
Between 1993 (before NAFTA took effect) and 2013, the U.S. trade deficit with Mexico and Canada increased from $17.0 billion to $177.2 billion, displacing more than 850,000 U.S. jobs. Growing trade deficits and job displacement, especially between the United States and Mexico, were the result of a surge in outsourcing of production by U.S. and other foreign investors. The rise in outsourcing was fueled, in turn, by a surge in foreign direct investment (FDI) into Mexico, which increased by more than 150 percent in the post-NAFTA period.
KORUS took effect in March 2012. Between 2011 and 2014, U.S. exports to Korea increased by about $1 billion, but imports have increased by $13 billion, so the trade deficit has increased by nearly $12 billion. This growing trade deficit with Korea has cost more than 75,000 U.S. jobs.
Then there is China, until now a part of the biggest trade and investment deal of all. In 2000, President Bill Clinton claimed that the agreement then being negotiated to allow China into the World Trade Organization (WTO) would create “a win-win result for both countries.” Exports to China “now support hundreds of thousands of American jobs,” and these figures “can grow substantially with the new access to the Chinese market the WTO agreement creates,” he said.
Between 2001, when China came into the WTO, and 2013 the U.S. trade deficit with China increased $240 billion. These growing trade deficits eliminated 3.2 million U.S. jobs. China became the third largest recipient of FDI in the world, which fueled the growth of thousands of new manufacturing plants that generated exports to the United States and other markets.” (Source)
During that same time period the top .01% grew their wealth by over 400% and Hillary Clinton, along with her husband Bill, grew their foundation from less than 100 million dollars to over 1 billion dollars!
Donations to the Clinton Foundation included the South Korean energy and chemicals conglomerate Hanwha, which paid $500,000 to $1,000,000 for a speech by Bill Clinton….. China Real Estate Development Corp. paid the foundation between $250,000 and $500,000 for a speech by the former president….China Real Estate Development Corp. paid the foundation between $250,000 and $500,000 for a speech by the former president…
5 million jobs in exchange for $2 billion dollars to the Clinton Foundation. Looks like a good deal for Globalist Billionaires. Not so good for the American People.