FLASHBACK: Donald Trump Was Weak on China
June 2, 2023
From his reckless trade war to constantly praising Xi Jinping, Donald Trump can’t spin his weak record on China.
America’s farmers and manufacturers suffered the consequences of Donald Trump’s failed trade deal, which left them even further behind than before his reckless trade war.
CNN: “Trump promised to win the trade war with China. He failed”
PIIE: “China bought none of the extra $200 billion of US exports in Trump’s trade deal”
Forbes: “Trump’s Trade War Cost U.S. Company Stock Prices $1.7 Trillion”
Trump’s trade war hit the American manufacturing industry hard and bankrupted farmers.
Brookings: “So over the years of the Obama administration there was a gradual recovery in manufacturing jobs and hours worked. Trump managed to destroy that through his ill-advised tariff tantrums in a short two years and put manufacturing into a recession.”
Bloomberg: “U.S. Farm Bankruptcies Surge 24% on Strain From Trump Trade War”
Washington Post: “U.S. manufacturing was in a mild recession for all of 2019, according to data released Friday by the Federal Reserve.”
Trump’s failed trade war forced American taxpayer-funded bailouts, not payments from China.
Yahoo News: “Trump’s claim that China paid for American farm subsidies is false, given that the U.S. has drawn from its own government coffers to pay for subsidies to bolster farmers hurt by the U.S.-China trade war.”
CNN: “The first round of farmer bailout was paid for out of the Commodity Credit Corporation, a Depression-era entity now administered by the US Department of Agriculture … China itself does not pay anything.”
And Trump repeatedly praised Xi Jinping and China for their handling of the COVID-19 pandemic.
Donald Trump: “China has been working very hard to contain the Coronavirus. The United States greatly appreciates their efforts and transparency. It will all work out well. In particular, on behalf of the American People, I want to thank President Xi!”
Donald Trump: “Well, I think China is very, you know, professionally run, in the sense that they have everything under control.”
President Biden, on the other hand, boosted America’s competitiveness with China with the CHIPS and Science Act.
NBC News: “[The CHIPS Act] is no small feat … it would authorize tens of billions more for science programs and regional technology hubs to keep the U.S. competitive with its rivals.”
Washington Post: “[The CHIPS Act] would provide $52 billion in subsidies to domestic semiconductor manufacturers … in a bid to strengthen the United States’ competitiveness and self-reliance in what is seen as a keystone industry for economic and national security.”
Scott Wong, NBC News: “McCAUL, senior Republican: ‘Guess who came out today, strongly opposed to the CHIPS bill? The Chinese Communist Party. If you want to know who hates this bill, who lobbies against it, the Chinese Communist Party. Why? Because they know it’ll help us compete against them.’”