From the day he announced for president, Donald Trump spoke of how the United States was losing ground to other countries, especially China, in international trade. We’re not winning anymore, Trump complained throughout the campaign, and he promised to change that.
Unlike most politicians who promise one thing and then do another after the election, Trump has followed through on his campaign promises on trade.
As Trump tweeted in April: “The United States hasn’t had a Trade Surplus with China in 40 years. They must end unfair trade, take down barriers and charge only Reciprocal Tariffs.”
“The U.S. is losing $500 Billion a year, and has been losing Billions of Dollars for decades,” Trump added. “Cannot continue!”
Trump tweeted again: “When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE…”
With his recent actions on trade with China, President Trump has brought the era of bipartisan cowardice to an end. Trade wars always exist, and now our side is finally going to fight back.
Even long-time free-traders are starting to see the light. Lawrence Kudlow admitted that “the whole world knows China has been violating trade laws for many years” and “President Trump is the guy calling them on it, and he’s right.”
“This is a problem caused by China, not a problem caused by President Trump. I would go so far as to say Trump is there to fix the problem,” Kudlow explains. “His argument, and it’s a good one” is this: “You can’t have free trade unless China brings down its barriers, opens up its markets, and stops this technology steal that they’re doing,” Kudlow adds.
China has far more to lose in a trade war than the United States does. Indeed, our job market has started to improve now that tariffs work to reduce our massive trade imbalance with China. Yet again, Trump was to pursue tariffs and call out China on dishonest practices.