Trump Responds To Cheating China?
There has been significant criticism of President Trump’s tough stance on trade deficits and unfair practices both with China and America’s allies and neighbors. Opposition to the White House move has come not only from the usual political opponents, but even allies within the GOP. Indeed, Republicans who would never dream of endorsing unilateral disarmament in weapons negotiations appear all too willing to adopt that concept in economic relations.
Interestingly, much of the media, while criticizing the White House for confronting Canada and Europe for their trade practices and threatening retaliatory measures, neglected to mention a key proposal Trump made at the recent G7 meeting: the elimination of all tariffs.
While bluntly confronting Canada and NATO partners and lumping them in with the adversarial Beijing regime may seem harsh, the reality is that the United States economy and job market has suffered significantly. Remedial steps are required.
The Alliance for American Manufacturing reports that “Unfair trade practices like dumping, export subsidies, and currency manipulation drove the loss of more than 6.1 million U.S. manufacturing jobs from 1998 to 2010. Today, there is no greater threat to the resurgence in American manufacturing than widening trade deficits and unfair trade practices that go unchecked. New trade agreements must give American workers and businesses tools to aggressively push back against unfair trade practices like currency manipulation, and create a level playing field. Trade agreements already on the books must be strictly enforced. And we need our policymakers to develop and implement a plan to end our trade deficit in manufactured goods, which directly threatens a potential resurgence for American manufacturing.”
Originally published on Townhall Finance.
Frank Vernuccio serves as editor-in-chief of the New York Analysis of Policy & Government (website usagovpolicy.com). He is the co-host of the syndicated radio program, Vernuccio/Novak Report, and is also a contributor to Fox News. His columns appear in many newspapers. After graduating Hofstra Law School, he was a legislative editor for a major publishing company, then served in both Republican and Democrat Administrations. Following the 9/11 attack, he was appointed to run the hard-hit Manhattan branch of the New York State Workers Compensation Board.
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