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.
A Decade After the Financial Crisis, Economic Confidence Rebounds in Many Countries
The improvement in the public’s economic mood has been dramatic in some nations, but pessimism about the future lingers, as does a sense that economic conditions were better pre-crisis.
In Advanced and Emerging Economies Alike, Worries About Job Automation
Average citizens around the world see a technological revolution coming in the workplace, and they are concerned. Many fear robots and computers will eliminate jobs and increase inequality.
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.
Despite Brexit negotiations, most in UK see EU membership as good for their economy
At the same time, 73% of people in the United Kingdom say they would like to see some powers currently held by the EU returned to national governments. A majority say membership in the EU has been a good thing for their nation’s economy.
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.
Remittances from abroad are major economic assets for some developing countries
For five countries – Nepal, Kyrgyzstan, Haiti, Tajikistan and Liberia – remittances from citizens abroad are equivalent to at least a quarter of GDP.