Washington state stands to lose big in U.S.-China trade spat: expert

Updated 2018-05-15 21:16:00 Xinhua

The diverse economy of Washington state on the U.S. west coast is deeply tethered to liberalized trade policy, which stands to raise its overall prosperity, an industry expert said Monday.

Edward Hamberger, president and CEO of the Association of American Railroads, said in a signed article to The Seattle Times that the Seattle region could lose about 16,000 jobs from a trade battle between the United States and China.

Hamberger quoted a recent study as saying that 40 percent of Washington state's total job market is tied to international trade, "a number that towers over almost every other state in the nation."

Exports alone have generated 138,271 direct jobs in greater Seattle, the largest city in the state, he said.

According to the Peterson Institute for International Economics, 41 million jobs in the United States, or more than 20 percent of all workers, depend on trade. In addition, U.S. incomes are nine percent higher today due to markets opened since World War II than they would have been if the country walled itself off from other nations, Hamberger said.

He also urged the Trump administration to finalize an updated trilateral pact between Canada, Mexico and the United States.

Trump has repeatedly threatened to tear up the 1994 North American Free Trade Agreement (NAFTA), and he has set June 1 as the deadline for a new agreement between the three countries.

Hamberger said NAFTA has boosted the U.S. economy by 127 billion U.S. dollars annually, which ultimately benefits the United States and its key sectors that guarantee the American way of life.

"No trade policy happens in a vacuum" in an integrated global market today, he said, hoping the U.S. government will have a vision for more open markets, as more than 40 percent of its traffic and a third of its labor force are attributed to trade.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 21 2019 13:01:52

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 21 2019 13:01:52

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 21 2019 13:01:52

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords