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February 26, 2008
Americans Blame Trade Deals for Economic Woes
By Seth Brohinsky and Mark Schulman, Abt SRBI
With much of the country worried about jobs heading into tonight’s Democratic party debate in Ohio, many Americans blame trade agreements for much of the nation’s economic woes, according to a recent Fortune CNN Business survey by Abt SRBI. More than 3 in 4 Americans (78%) say that the growth in foreign trade has made matters worse for American workers.
• Criticism is highest in the Midwest, where 82% see trade
damaging American workers.
• Almost 7 in 10 (68%) Americans believe international
trade benefits other countries more than it benefits the
United States.
• More than 1 in 5 currently employed workers (22%) say they
are “extremely” (13%) or “very concerned” (9%) about losing
their job or not getting a job because of foreign competition.
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Overall,
who do you believe benefits more from international trade - The |
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Total (%) |
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23 |
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Other
countries that trade with the United States |
68 |
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Both
benefit equally |
4 |
Americans are split when asked if international trade has made things better (34%) or worse (38%) for “you personally.”
Lower Prices Not Enough
When asked to choose between the benefits of lower prices resulting from trade versus damage from loss of jobs and lower wages, Americans say the economic damage outweighs the lower prices, 63% to 30%.
• Almost 2 in 3 Americans (64%) say they are willing to pay higher prices to keep down
foreign competition.
Damage from Free Trade Agreements: Mixed Picture
More than 2 in 5 Americans (41%) think that free trade agreements, such as NAFTA, have hurt the U.S. economy. Only 24% believe these agreements have helped, with 27% saying the agreements have not had much impact.
Government Not Doing Its Part
Eight in ten Americans (79%) feel the US Government has not done enough to help workers who have lost their jobs to increased foreign competition. A majority of Americans would support the following proposed policies aimed at helping workers who have lost their jobs to foreign competition and outsourcing:
Policies with the greatest amount of support include:
• providing special training programs (90% support);
• providing tax incentives for companies to relocate to areas where workers;
have lost their jobs because of foreign imports (84% support);
• allowing imports only from countries that ban child labor (82% support);
• allowing imports from countries that meet certain clean air and water
standards (78% support).
Other popular alternatives are: giving workers longer-term unemployment benefits than the now get (63% support), placing high tariffs on goods coming from countries that produce low-priced goods (62%), providing government subsidies to companies facing low-priced foreign competition (59%), and allowing imports only from countries that allow unions to organize their workers (51% support).
The China Effect
Where a product is manufactured does not impact American’s purchasing decisions except when that product is made in China.
• Nearly three-in-five (57%) Americans are less likely to buy a product if it is made in China.
• When products are manufactured in other areas, such as Eastern Europe (57%),
Western Europe (55%), Canada (53%), India (52%), Africa (51%), Mexico (48%),
Japan (47%), and South Korea (46%) nearly a majority say it doesn’t matter.
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Where are some places which export many products to the U.S. for each one,
please tell me whether you are more likely to purchase a product manufactured
in this area, less likely or doesn't matter to you in your purchase decision? |
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More likely (%) |
Less likely (%) |
Doesn't matter (%) |
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27 |
25 |
47 |
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14 |
39 |
46 |
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26 |
17 |
55 |
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18 |
23 |
57 |
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17 |
28 |
51 |
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11 |
35 |
52 |
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11 |
57 |
30 |
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15 |
36 |
48 |
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37 |
9 |
53 |
Political Fallout
What will the political impact be as American’s perceptions of the economy worsen? With the election cycle in high-gear, it appears that the Democrats have the most to gain.
• Democrats are seen by nearly a majority (45%) of Americans as the party that would
do a better job keeping the economy healthy, compared to 35% who feel the Republicans
would do a better job.
• Democratic positions on foreign trade are more in line with the American people than
Republicans positions (44% Democrat vs. 35% Republican).
Economy and National Security
American’s are concerned about a number of economic and trade related policies, specifically issues relating to national security.
• Nearly eight-in-ten (78%) Americans are very concerned that the US is becoming increasingly
dependent on foreign countries that might be hostile to the US.
• A similar percentage (77%) of Americans is very concerned that the US has not been able to
check the safety of products coming from other countries.
In light of these findings look for the presidential hopefuls to speak about economic and trade policies that protect American jobs at home and a balanced trade policy that will create a more secure future.
Methodology
This Fortune Magazine poll was conducted by telephone January 14- January 16, 2008 among a random sample of 1,000 adults throughout America. The margin of error for the entire sample is approximately +/- 3 percentage points. The margin of error is higher for subgroups, for example, the margin of error for Democratic voters and Republican voters is approximately +/- 4 percentage points. Surveys are subject to other error sources as well, including sampling coverage error, recording error, and respondent error.
Abt SRBI public affairs designed the survey and conducted all interviewing. The full Fortune questionnaire and trend data may be found in the related link below:
Related Links
www.srbi.com
