United States trade with China has cost Americans more than 2.4 million jobs, according to the study released this week by the liberal think tank - Economic Policy Institute.
More than 20 thousand of those `lost jobs' were in the four congressional districts of Greater Cleveland. According to the report, the impact was felt most in the fabrication and metals sectors, between 2001 and 2008.
Wendy Patton is a Senior Associate with Policy Matters Ohio, which co-authored the report. She says Ohio's high concentration of manufacturing employment makes it more susceptible to the trade deficit.
WENDY PATT0N:
"The growing trade imbalance in key Ohio sectors spells increasing trouble for our supply chain industrial base, which is critical to the Ohio economy."
But some economists challenge the study's methodology, saying it ignores both how much initial work is outsourced internationally, then returned to the US for completion, and the estimated 230 thousand jobs held by Ohioans employed by foreign firms.
Patton says that `has' been factored in.
WENDY PATTON:
"What we did was mat out all the jobs related to exports from the jobs that are lost due to imports in China."
....and that even with the consideration, Ohio still lost jobs.
The group is backing legislation introduced by Ohio Senator Sherrod Brown and New York's Chuck Schumer that it says will help level the playing field. Schumer's bill would curb what the groups call 'unfair trade practices' being used by the Chinese. Senator Brown's proposal would authorize financial support for U.S. manufacturers whose prices are being undercut by foreign competitors.
