OPINION | This article contains opinion that reflects the author's views.
President Donald Trump vows to “tax China to build up America” as part of his 2024 campaign promise by imposing a tariff on imported goods.
Trump’s new trade policy would “completely eliminate” the United States’ dependence on China by eliminating China’s most favored nation trade status.
Using a four-year plan, Trump will phase out all Chinese imports of essential goods. Federal contracts for any company that outsources to China will be banned.
Trump Announces A Plan To End America’s Dependence On China pic.twitter.com/UA7HVvfRxm
— Red Voice Media (@redvoicenews) February 28, 2023
“Very simply, the Biden agenda taxes America to build up China,” Trump said. “My agenda will tax China to build up America.”
“Joe Biden claims to support American manufacturing, but in reality, he is pushing the same pro-China globalist agenda that ripped the industrial heart out of our country,” Trump said in a policy video.
Trump’s new system would “reward domestic production and tax foreign companies and those who export American jobs.”
“We had largely stopped and it was going to be stopped completely within less than a year,” Trump said about his first term in office.
"Have you seen anything that gives you a high degree of confidence that the Wuhan Institute of Virology was the origin of this virus?"
Trump: "Yes I have. And I think the WHO should be ashamed of themselves because they're like the public relations agency for China" pic.twitter.com/IFA50pqulf
— Dan O'Donnell (@DanODonnellShow) February 26, 2023
“As tariffs on foreign producers go up, taxes on American producers will go down, and go down very substantially, that means a lot of jobs coming in,” Trump said.
“This plan will be the linchpin of a new Strategic National Manufacturing Initiative, that builds on my historic success in ending NAFTA,” Trump said.
It’s The China Virus — Trump Was Right.
— ALX 🇺🇸 (@alx) February 27, 2023
More from Fox News:
Trump said to achieve his goal, he would phase in a system of universal, baseline tariffs on most foreign products. Trump said higher tariffs will “increase incrementally depending on how much individual foreign countries devalue their currency.”
Trump also said countries devalue their currency and “subsidize their industries, or otherwise engage in trade cheating and abuse, and they do it now like never before.”
The former president said that his proposed system would “end our gaping trade deficits” and bring back “millions” of American jobs. He said it would also bring “trillions and trillions of dollars” to the U.S. Treasury Department from foreign countries, which could then be invested in “American workers, American families and American communities.”
Trump replaced NAFTA with the United States-Mexico-Canada Agreement (USMCA), which covered more than $1.3 trillion of commerce. The USMCA requires 75% of automobile components be manufactured in the United States, Canada or Mexico in order to avoid tariffs. The deal required that by 2023, some 40 to 45% of automobile parts must be made by workers who earn at least $16 an hour.