Darlene Hooley: “there is little arguing about the macroeconomic benefits of free and open trade. International trade agreements lower…”

“there is little arguing about the macroeconomic benefits of free and open trade. International trade agreements lower prices, they encourage higher productivity; and ultimately, they improve consumer choice. But these gains, no matter how significant to our economy, are net gains, because increases in imports usually contribute to a plant closing and worker layoffs. That is because the gains from international trade tend to be very large and are widely distributed throughout our economy. The U.S. economy's ability to create jobs is virtually unmatched by any other Nation. Unfortunately, that is a simplistic view. The cost of imports are heavily concentrated by industry, location, and worker demographics. And while our economy has demonstrated an ability to create jobs, job creation does not always take place at the same location where jobs are lost. One need look no further than our last census for proof. New jobs are in different industries than jobs lost. The vast majority of trade-related job losses are in the manufacturing sector. Between 1979 and 1999, 17 million American workers lost their jobs from manufacturing industries. However, during that same period of time, the United States added 39 million jobs. So essentially, for every job lost in the manufacturing sector, more than two jobs were created in the economy.”