The decline in manufacturing in the U.S. in the 1970s led to trade deficits affecting exports, while unions faced challenges due to import competition and job losses in key industries.
The decline in manufacturing in the U.S. during the 1970s was influenced by factors such as increased competition from foreign producers, a shift to service industries, and decreased demand for certain products like steel. This decline led to the impact on exports as the U.S. began to run massive trade deficits due to a drop in the value of exports and a rise in import prices.
With the decline in manufacturing, unions in the U.S. were affected as well. Import competition, especially from Japanese and European manufacturers, resulted in a reduction in jobs in auto manufacturing and steel industries, leading to the weakening of unions in these sectors and a general decline in union membership across various industries.
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