A quick report from Ernest Preeg of MAPI: U.S. exports of manufactures in 2015 were down $40 billion, or 3%, imports were up $49 billion, or 3%, and the trade deficit surged $89 billion, or 16%.
This equates to a trade-related loss of 620,000 American manufacturing jobs, up from a 400,000 job loss in 2014. China accounted for 60% of the U.S. global deficit, with U.S. manufactured imports from China 5.8 times larger than U.S. exports to China. A MAPI detailed report on U.S. and Chinese trade in manufactures in 2015 will be out in the next week.
