Trade with China is driving down U.S. wages and resulting in big job losses for Americans, according to a study released today by a Democratic-leaning Washington think tank.
The study by the Economic Policy Institute found that the growing trade deficit with China has cost the U.S. billions of dollars in lost wages: $37 billion in 2011 alone.
Between 2001 and 2011, the trade deficit eliminated 2.7 million U.S. jobs, with nearly 77 percent of them in the manufacturing sector, the study said.
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