Senator Sherrod Brown

Washington, DC – With the announcement of a new record $256.3 billion trade deficit with China, U.S. Senator Sherrod Brown (D-OH) released the following statement in response:

“Last year was yet another year of record trade deficits. From a failed trade policy to a weak dollar to dependence on foreign oil, today’s report underscores just how abysmal current economic policies have been for middle class families. Supporting the same failed trade policy forces too many Americans out of the middle class and into poverty,” said Brown.

The U.S. deficit with China accounts for about 50 percent of the overall U.S. trade deficit. Last month, the trade deficit with China had already passed the 2006 record. The China trade deficit rose by 10 percent from 2006.

The American Manufacturing Trade Action Coalition (AMTAC) estimates the cumulative U.S. trade deficit with China in manufactured goods is $1.1 trillion since China joined the World Trade Organization (WTO).

A separate report from the Labor Department is forecast to show initial jobless claims fell to 347,000 last week, from 356,000 a week earlier. Claims at that level would still be above the weekly average for the last year and consistent with a slowing job market. Since July 2000, Ohio has lost 242,000 manufacturing jobs, including over 34,000 in just the last two years.