Leo W. Gerard, international president of the United Steelworkers (USW) issued the following statement today on the record high for the U.S. trade deficit for a single year with China, that includes an overall increase of $1.8 billion in December of automotive vehicles, parts and engines.

“Last year’s trade deficit was another measure of our nation’s failed trade policies.  The U.S. trade deficit with the world increased by more than 10 percent over the previous year, but our trade deficit with China reached an historic high of $295 billion.

“The success of our nation’s trade policies should be measured not in the number of trade agreements that are signed, but the increase in jobs and growth.   Each billion dollars in trade deficits represents thousands of American lost jobs and the overall trade deficit has placed a significant drag on economic growth and our recovery ... more