Posted on 03/03/2016 5:41:13 PM PST by drewh
Republican front-runner Donald Trump on Thursday said he would rip up all existing free trade agreements if he wins the White House.
Trump argued that he would greatly improve U.S. relationships with nations such as Mexico and China while lowering trade deficits.
"Im going to rip up those trade deals and were going to make really good ones, he said during a campaign stop in Portland, Maine.
He lashed out at 2012 GOP nominee Mitt Romney for saying that a Trump presidency would ruin free trade for the United States.
Ruin free trade? Trump said. "If Im losing $505 billion with China, if Im losing $58 billion a year with Mexico, in terms of deficit, why do I want that kind of trade for anyway," Trump said.
"Ruin it? Who needs that kind of trade, seriously who needs that kind of trade, Trump said.
Earlier in the day, Romney called Trump a fraud and ripped him for his lack of policy proposals.
The trade deficit with China last year soared to $365.7 billion, well below Trump's $505 billion, and was $58.3 billion with Mexico, according to Commerce Department figures.
We will actually have better relationships with Mexico and better relationships with China, theyll respect us, Trump said.
They dont respect us now. They think were the dumbest people on earth led by the worlds dumbest people," he said.
(Excerpt) Read more at thehill.com ...
They exacerbated it somewhat. But the depression was caused by a boom and bust. Part of the boom was the lifting of historic tariffs that we had since the founding. Once we put the tariffs back (not even as high as they were) the Great Depression was already underway and global trade was going to drop anyway.
“In other words, we dont have a trade agreement with China. Our membership in the WTO allows China to work off of our tariff book.”
We signed specific tariff agreements in 1997 and 1999 with China within the WTO framework. So technically Trump is right, we do have a trade agreement with China. In 2014, the Obama administration agreed under the WTO framework to move to tariff free imports of technology products from China. That agreement does not have to be ratified by the Senate since the authority to negotiate was ceded by the Senate to the president.
http://www.latimes.com/world/asia/la-fi-tn-us-china-tech-tariffs-20141111-story.html
True, some do not even have to have that done. The ABM treaty could be voided with out a law being passed for instance.
Fair enough, I’ll grant you the technicality. But I doubt Trump is aware it exists, much like others wondering about MFN, without knowing what it means.
Most treaties, if they are properly written, have rescission clauses. The ABM Treaty had one.
Traitors can never come back for all I care. Let's see how well they do without access to the US market.
And what happens to, as one example, the wheat industry here in the US where 50% of it is exported? Just one example. What happens to all these US companies that export goods?
They're not exporting much to China. Trade with Mexico won't be disrupted for long. They're totally dependent on US cash transfers.
You are exactly right ...good post
We get it. You support multi-billion trade deficits. Have a nice day.
Not really but I fail to see how Trump would change that other than his claim he can rip up one deal and do another one that is much, much better.
You “fail” because the status quo is your preference based on your anti-Trump, pro-GOPe posts these last couple of months.
Hope you have a very happy March 15th. Enjoy the rest of your Sunday.
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