Former US President Donald Trump, released a new campaign video, addressing the need for pro-American changes to bolster the struggling American economy. Trump unveiled his plans for a “sweeping pro-American overhaul of our tax and trade policy” aimed at bolstering American production and shedding economic dependence, especially on China.
In his campaign video released on Monday, Trump first blasted President Joe Biden, stating that despite his claims to be pro-American manufacturing, he is “pushing the same pro-China globalist agenda that ripped the industrial heart out of our country. Trumps vision is - “to move from the Biden system that punishes domestic producers and rewards outsourcers - to a system that rewards domestic production and taxes foreign companies and those who export American jobs.”
The former president said-
“To achieve this goal, we will phase in a system of universal base-line tariffs on most foreign products. On top of this, higher tariffs will increase incrementally depending on how much individual foreign countries devalue their currency,”
-Former President Donald Trump
producers will reduce. In the video he explained-
“As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially, and that means a lot of jobs coming in. Not only will this system end our gaping trade deficits – and they are massive right now – and bring back millions of American jobs, it will also bring trillions and trillions of dollars pouring into the United States Treasury from foreign countries and allow us to invest that money in American workers, American families, and American communities.”
“This plan will be the linchpin of a new strategic manufacturing initiative that builds on my historical success in ending NAFTA [North Atlantic Free Trade Agreement].”
-Former President Donald Trump
Putting forth a series of policy plans, including phasing out all key imports, to “completely eliminate dependence on China in all critical areas.” Trump doubled down exclusively on China.
He explained-
“We will revoke China’s most-favored-nation trade status and adopt a four-year plan to phase out all Chinese imports of essential goods, everything from electronics to steel to pharmaceuticals. This will include strong protections to ensure China cannot circumvent restrictions by passing goods through conduit countries – countries that don’t make a product, but all of the sudden they’re selling a lot of product. It comes right through China, right out China, and right into our country.”
“We will also adopt new rules to stop U.S. companies from pouring investments into China and to stop China from buying up America… And we will eliminate federal contracts to any company that outsources to China.”
-Former President Donald Trump
Formally addressing the current administration, he stated that Biden-
“will never get the job done” and that “[h]e is weak on China because the corrupt Biden family has received millions and millions of dollars from entities tied to the Chinese Communist Party.”
-Former President Donald Trump
The New York Times reported earlier this month, that last year, the trade deficit closed in on $1 trillion after climbing 12.2 percent since 2021. Additionally, according to Ana Swanson, a trade and international economics reporter for the Times,
the -
“U.S. trade deficit with China grew 8.3 percent annually to $382.9 billion, the second-highest total on record”
- Ana Swanson, New York Times
"We need to be investing in manufacturing and small businesses. We need to be creating a workforce where Americans can compete in a global marketplace because they have the necessary skills. And we need fairness, and we need a sustainable, strong economy that's durable for the future."
-Valerie Jarrett