Since imports start from a much larger base, we need more sharply positive export growth rates to stabilize or reduce the deficit.
As helpful as these individual steps are, they need to be followed by systemic changes that will put our trade relationship on a more fair basis.
Japan's exports to us are only three percent of its gross domestic product (GDP). Their total exposure to trade is about half that of ours, in terms of percentage.
Japan's exports to us are only three percent of its gross domestic product (GDP), ... Their total exposure to trade is about half that of ours, in terms of percentage.
I am hopeful. I think the stars are aligned on this. The Chinese have stuck their little toe in the water, and it didn't freeze off. I think the time is right for them to take the next step.
It's really outrageous that China's been in the WTO for five years and they still have not identified their subsidies to the WTO.
We are sending a letter right now that will arrive on Monday to request a meeting. We'll probably have meetings with them next week to explain the damage being done to the U.S. economy.
What we want the government to do is to make it plain that currency values should reflect economic fundamentals, and governments shouldn't interfere with that.
The Chinese would be smart to move. It would head off trade angst in this country and head off potentially damaging legislation.
Everything is on pause waiting for these meetings. If nothing comes out of them, that can fan the flames of those in Congress who want to take matters into their own hands.
So many of the consumer electronics we buy from China are simply assembled there from parts made in other Asian countries. In yuan terms, that would make the parts they buy cheaper. So it wouldn't have much effect.
He (Snow) has been very reasonable in his approach to China, but time is running out on this issue.
This really sounds like a missed opportunity. We were really hoping that significant progress would be made so that both governments would begin to work together to address this very large trade imbalance.
It's an election year and the trade balance keeps getting worse.
You've got to offset the losses. If we don't get the market access we need, we're going to turn to our Congress and say that we can't support this agreement.
I think a very important thing happened. There was agreement that we shouldn't be negotiating only on agriculture.