It's often said that insanity is repeating the same actions but expecting different results. This notion is reflected in the critique of American trade policies over past decades, which have failed to benefit the nation, its workers, and communities.
The New York Times Editorial Board had remarked on the issue two decades prior, addressing the January 2005 trade deficit of $58.3 billion in an editorial titled "Dangerous deficits." The editorial emphasized the risks of deficits, quoting former Federal Reserve Chairman Paul Volcker, who linked trade deficits to the Great Recession. They stated, “At $58.3 billion, the U.S. trade deficit for January exceeded everyone’s worst expectations… The trade deficit is the single most important factor in measuring the extent to which the United States lives beyond its means.”
Since then, the U.S. trade deficit has more than doubled, reaching $131.4 billion in January. The consequences have been widespread. Since 1990, manufacturing jobs have diminished by 59% in New York and 35% in Ohio. The loss of industries has had detrimental effects on American communities, correlating with increased drug overdoses due to vanished employment opportunities.
There seems to be a differing perspective among commentators on addressing this issue. For instance, Chris Matthews on MSNBC questioned the practicality of increasing U.S. lumber production, asking, “What are we going to do? Have more lumber made in the United States now!?” President Donald J. Trump responded by signing an executive order to boost American timber production. Similarly, Nia Malika-Henderson on CNN wondered, “Is it worth it to upend the global economy for HVAC jobs?” A statement interpreted as favoring low-wage Chinese jobs over higher-wage American ones.
The decline in American industry has implications beyond economics, posing challenges to national security by impacting the production of vital goods such as ships and medicine. Despite this, President Trump remains steadfast in his initiative to reshore American industries and "Make America Wealthy Again," suggesting early signs of progress in restoring domestic manufacturing.
