We import virtually all of our computers, phones, televisions and electronics. We used to dominate the field and now we import it all from different countries. A single shipyard in China now produces more ships every year than all of the American shipyards combined. Think of that. And it was a business that we used to dominate. We used to dominate it totally. In short, chronic trade deficits are no longer merely an economic problem. (43:25–43:33)
CLAIM
Asserts that one Chinese shipyard produces more ships annually than all U.S. shipyards combined.
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