More than 400,000 U.S. jobs were displaced between 2001 and 2013 due to Walmart’s imports from China, according to new research from the Economic Policy Institute (EPI).
Of those displaced U.S. jobs, 314,500 were in the manufacturing sector, the progressive think tank found.
Walmart, the world’s largest retailer, imported over $49 billion worth of goods from China in 2013, up from $11.4 billion in 2001, when China became a member of the World Trade Organization (WTO), according to the research.
The report showed that Walmart likely drove about 15 percent of the U.S. goods trade deficit with China between 2001 and 2013, representing an increase of $36.7 billion over that time period.
The U.S. goods trade deficit with China grew from $84.1 billion in 2001 to $324.2 billion in 2013.
“The current unbalanced U.S.-China trade relationship is bad for both countries, and Walmart has played a major role in creating that imbalance,” wrote report author Robert Scott, EPI’s director of trade and manufacturing policy research. “The United States is piling up foreign debt, losing export capacity, and facing a more fragile macroeconomic environment.”