Charles E. Schumer Quotes
I basically believe that until China stop stealing our intellectual property, and until they stop keeping our companies out that do good things, the amount we will gain from export jobs is minimized, and the amount we lose in middle class incomes is maximized.
Schumer, Charles E. Congressional Record, Government Printing Office, 2018.
Most Americans are familiar with the many people whose jobs were lost to other countries where the wage rates were less. However, far fewer know about the jobs that are created by American exports. And fewer still realize that the wage rates of the jobs created by exports are far better paying than the average. Even though there is balancing of jobs, the burden has fallen very heavily on blue collar workers with poor educations whose jobs have gone overseas and who do not have the education, skills, or cultural background to fill most of the new jobs that are created by exports.
Many free-traders disagree. While there is unemployment in the auto industry from imported cars, there is increased employment in the importing process, the marketing, selling, and maintenance of the imported cars as well as their financing. Further, when trade is open, we can then export products and services to Japan and this creates jobs. No one has ever been able to exactly measure the jobs created so it is an unsettled intellectual economic and political question. However, the people who lose jobs to imports are generally identifiable while the beneficiaries of many of the new jobs created by open trade are never specifically identified, so public opinion is more sympathetic to the former.
Charles Ellis Schumer is an American politician serving as Senate Majority Leader since January 20, 2021. A member of the Democratic Party, Schumer is the senior United States senator from New York, a seat he has held since 1999. He is the current dean of New York's congressional delegation.
