If anything is to balance out trade with other countries like China it seems to me that the field needs to be more balanced. To do that I propose a Federal law requiring all parts or items manufactured for the USA be done so with our standards. Those being OSHA and EPA. We already have done something similar with certain woods we import. We require documentation and we inspect where that wood comes from for ourselves as well so there is a precedent. While I’m not an economist, I’m sure 3 things would happen. 1. There would be more protection for workers in other countries.
2. The cost of our imported goods would go up. However, considering we have become a throw away society it would slow down our consumption and bring back an aspect of our country that’s been forgotten, repair instead of replace.
3.It would make outsourcing jobs to other countries less attractive and keep jobs here or reverse that trend to some degree.
I have been told by some that China adjusts it’s currency to suit it’s own needs. So I’ll go out on a limb and hypothetically suggest that one main Federal law be implemented and be focused on one industry at a time, like the auto industry, and once that is settled, add a rider for electronics and so on.
I’m the first on to say that economics, politics are best left to smarter people than me, but hey, who knows what the perfect answer is in an imperfect world?

Location: NJ, USA