U.S. manufacturing employment fluctuated around 18 million workers between 1965 and 2000 before plunging 18 percent from March 2001 to March 2007. In this paper, the authors find a link between this sharp decline and the U.S. granting of Permanent Normal Trade Relations (PNTR) to China.
Industries where the threat of tariff hikes declines the most experience more severe employment losses along with larger increases in the value of imports from China and the number of firms engaged in China-U.S. trade. These results are robust to other potential explanations of the employment loss, and we show that the U.S. employment trends differ from those in the E.U., where there was no change in policy.
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Posted by Anonymous | July 31, 2014, 11:02 pm