The gap between the U.S deficit and the Chinese surplus in trade manufactures continued to grow, according to analysis done by the MAPI Foundation, the research affiliate of the Manufacturers Alliance for Productivity and Innovation.
For Q4, the U.S. deficit rose by $19 billion, or 14%, compared with 2013, and increased by $61 billion, or 12%, for calendar year 2014. That adds up to a loss of about 425,000 American jobs, according to MAPI trade and finance expert Ernest Preeg.
U.S. manufactured exports did grow in 2014, adding 3%. And over the last five years, exports have grown by 41%. But those numbers pale in comparison to China’s growth of 96% for the same time period.
For a further look, read the in-depth analysis from MAPI Foundation senior advisor for international trade and finance, Ernest Preeg, Ph.D.