Trade Deficit Shows US Can’t Replace China Manufacturing: Times

The ballooning trade deficit with China recorded by the U.S. last year showed it has no alternative to replace China’s manufacturing powerhouse, the Global Times said in an editorial after data released by the Department of Commerce. The deficit with China last year was $355 billion, up from $310 billion in 2020, the newspaper said. The key to narrowing China-U.S. trade deficit is relaxing restrictions on exports to China, and allowing China to buy what it needs, Global Times said. The U.S. inflation crisis has to do with heavy tariffs on Chinese imports, and if the Biden administration keeps record prices, it is likely to ruin the Democratic Party in the midterm elections, the newspaper said.