Stephen Creskoff

International Trade Consultant, Author and Speaker

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Trade Myth #3 Debunked by Steve Creskoff

06/19/2016 by Stephen Creskoff

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.)

 Facts:

Trade agreements are actually good for most American workers. The reduction of tariffs and non-tariff barriers results in lower costs for goods, benefitting all consumers. . In addition, trading partners such as China and Japan that realize a trade in goods surplus with the United States invest most of the trade surplus in the United States, driving down interest rates and increasing U.S. employment. U.S. export-oriented manufacturing industries, agricultural producers and service sector providers benefit in particular from trade agreements. Employment increases resulting from trade agreements more than offset job losses in old technology, labor-intensive industries such as garment and footwear manufacturing (labor-intensive, old technology jobs are destined to disappear in any event as a consequence of automation). Workers who lose employment because of trade agreements should receive adjustment assistance under existing law and be retrained for new technology jobs.

– 6/6/16

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