In 2017, we in America consumed $600 billion more stuff than we sent to the rest of the world for it to consume. In this sense, the trade deficit is a good thing. It is not “lost money” but gained consumption.
John Phelan is an economist at the Center of the American Experiment.
Trade restrictions are a zero sum game, making some better off at the expense of others.
The Citizens League found that most of St. Paul’s large employers such as Allina Health, Ecolab, HealthPartners, and Securian already pay the majority of their workers at least $15 per hour.