Americans, Like Many in Other Advanced Economies, Not Convinced of Trade’s Benefits
People in advanced and emerging economies generally agree that growing trade and business ties with other nations are good for their country, but fewer are convinced such ties lead to more jobs, higher wages or lower prices at home.
As Trade Tensions Rise, Fewer Americans See China Favorably
Overall, 38% of Americans have a favorable opinion of China, down slightly from 44% in 2017. Concerns about China include economic threats, cyberattacks, environmental damage and human rights.
Americans have mixed views of Mexico, ‘warmer’ feelings toward Canada
Views of Mexico are mixed: While 39% say they feel “warmly” toward Mexico, 34% feel “coldly,” and 26% are neutral, according to a new Pew Research Center survey. The public has much warmer feelings toward Canada. Two-thirds (67%) say they feel warmly toward Canada, with 52% giving it a very warm rating (76 or higher on the scale). Just 12% feel coldly toward Canada.
As new tariffs take hold, more see negative than positive impact for the U.S.
Americans’ views of the new tariffs between the United States and some of its trading partners tilt more negative than positive.
Americans are generally positive about free trade agreements, more critical of tariff increases
Americans’ views of free trade agreements, which turned more negative during the 2016 campaign, are now about as positive as they were prior to the campaign.
U.S. trade deficits with other countries can vary significantly, depending on how they’re measured
The United States runs a far larger merchandise trade deficit with China than with any other nation. But when the trade deficit is measured in other ways, the U.S. actually has a larger imbalance with countries outside of China.
Despite talk of ‘trade war’ with China, highest U.S. tariffs are on imports from other Asian countries
The highest U.S. tariffs aren’t on imports from its biggest trading partners, but on products from several developing South Asian nations whose exports are heavily weighted toward clothing, footwear and other products that the U.S. generally taxes highly.
U.S. tariffs vary a lot, but the highest duties tend to be on imported clothing
Average tariff rates, while useful for comparison, can obscure the wide range of rates imposed on different classes of imports and on specific products.
U.S. tariffs are among the lowest in the world – and in the nation’s history
The Trump administration’s plans to impose $50 billion in tariffs on Chinese imports, as well as tariffs recently placed on imported steel and aluminum and on imports of solar panels and washing machines, mark a distinct break from decades of U.S. trade policy, which long has generally favored lower tariffs and fewer restrictions on the movement of goods and services across international borders.
Number of U.S. workers employed by foreign-owned companies is on the rise
Foreign-owned companies employed 6.8 million workers in the United States in 2015, up 22% from 2007. Overall, foreign-owned companies accounted for 5.5% of all U.S. private sector employment in 2015.