Stephen Creskoff

International Trade Consultant, Author and Speaker

  • Home
  • About
  • Services
  • Publications
  • Trade Myths
  • Book Reviews
  • Testimonials
  • Contact

Site by DCVD

Steve Creskoff Debunks Trade Myths

06/19/2016 by Stephen Creskoff

Mark Twain famously observed that

There are three kinds of lies: lies, damned lies, and statistics.

To that we should add a fourth kind of lie:

Lies about international trade!

There is an amazing amount of false information spread by politicians and special interest groups about the supposed damage to the United States economy caused by international trade. This blog is my attempt at countering these myths with easily understandable explanations.

Trade Myth 1
The U.S. has opened itself up to trade from other countries more than any other advanced economy. This is hurting the middle class and factory workers. (Politicians such as Bernie Sanders and Donald Trump frequently make this claim.)

The fact is …

Trade Myth 2
China is exporting hundreds of billions of dollars of goods more to the U.S. than the U.S. exports to China. This unfair trade balance, caused by “clueless” U.S. trade negotiators, is killing jobs in the U.S. (Politicians such as Bernie Sanders and Donald Trump make this argument. Trump would impose a high tariff on imports from China and then renegotiate with the Chinese to correct the imbalance.)

The fact is …

Trade Myth 3
Trade Agreements are bad for American workers. Trade agreements such as NAFTA and Permanent Normal Trade Relations with China have resulted in the loss of millions of American jobs. (This is Bernie Sander’s argument, and he has consistently over the years followed the lead of certain trade unions in opposing all international trade agreements.)

The fact is …

Trade Myth 4
The North American Free Trade Agreement (NAFTA) is a “disaster” and should be either repudiated or renegotiated. Tariffs should be imposed to stop companies like Ford and Carrier from building autos and air conditioners in Mexico intended for the U.S. market. (This is Donald Trump’s long-standing argument, which echoes Ross Perot’s opposition to NAFTA 25 years ago.) Bernie Sanders argues “NAFTA cost us 800,000 jobs nationwide.”

The fact is …

Filed Under: Trade Blog, Trade Myths

Speaking Events

“The Benefits of Trade Facilitation and the WTO’s Agreement on Trade Facilitation”

International Law Institute
Washington, D.C.
December 5, 2018

“U.S. Trade Policy and Future Trade Trends”

U.S. Department of State, International Visitor Leadership Program
Washington, DC
June 26, 2018

"Proposed Reorganization of US Customs and Border Protection"

American Bar Association, International Law Section
New York , NY
April 20, 2018

“Detecting Smuggling”

Talks for a delegation of China Customs officials
George Mason University
Arlington, Virginia
March 19-20, 2018

“Reshoring and Promoting Domestic Manufacturing” and "Products Liability”

Talks for a delegation from Gansu Province, China
George Mason University
Arlington, VA
December 4, 2017

Growing You Business Globally Symposium - UPS

WHYY Radio Station
Philadelphia, Penna.
October 26, 2017

U.S. and China’s Legal Regimes Compared for Shanghai Municipal Officials

George Mason University
Arlington, VA
September 21, 2017

Roundtable on Sino-U.S. Trade Relations

University of International Business and Economics
Beijing, China
August 5, 2017

Global Supply Chains and Trump’s Trade Policy

University of International Business and Economics
Beijing, China
August 4, 2017