By Sahid Fawaz
President Donald Trump promised he would end the elimination of American jobs by foreign competition. Turns out that he’s had the opposite effect so far.
“After helping strike a deal to keep the Carrier Corporation from shutting down its furnace plant in Indianapolis one year ago on Wednesday, Donald Trump said the days of companies shipping jobs overseas had ended.
‘Companies are not going to leave the United States anymore without consequences,’ Trump, who was then president-elect, said last year at the Carrier plant, echoing a key campaign promise. ‘Not going to happen.’
It has continued to happen.
Though it seemed that Trump’s populist, anti-trade campaign and his surprising election victory heralded the beginning of a new protectionist era, companies have continued to lay off workers for trade-related reasons at roughly the same pace as in the previous five years.
More than 93,000 jobs have been eliminated due to foreign competition since Trump’s election, according to Labor Department data analyzed by Good Jobs Nation, a union-backed labor advocacy group. The previous five years saw an average of 87,500 jobs lost due to trade.
One reason Carrier kept its plant open instead of shifting all the production to Mexico was that its parent company, United Technologies, is a major government contractor and didn’t want to jeopardize that revenue stream. At the very least, it seemed, the Carrier deal showed Trump could use the presidency to bully companies into hiring American workers. But big federal contractors contributed 11 percent of the layoffs due to trade over the past year, compared to only 4 percent over the preceding five years.”
For the rest of the story, check out the full piece at the Huffington Post here.