DNC on Trump Administration Data Confirming China Isn’t Living Up To Trump’s Trade Deal
September 3, 2020
In response to new data from Trump’s Commerce Department, which once again confirms that China isn’t living up to the trade deal, DNC War Room senior spokesperson and advisor Lily Adams released the following statement:
“From the day he launched his campaign, Trump staked his presidency and reelection on a China trade deal that his administration once again confirmed has been a failure. After losing the trade war he started, Trump settled for a bad deal, and was so eager to secure it that he ignored warnings and let China off the hook on the coronavirus, which has cost over 185,000 American lives and wreaked havoc on our economy. Now, China isn’t even living up to its purchase agreements, yet the Trump administration continues to take them at their word. Trump promised to get tough on China, but he got played instead.”
New data from Trump’s Commerce Department confirmed that through July China was still more than $110 billion short of its trade deal commitments for 2020 and even $10 billion behind pre-trade war levels.
January 2020-July 2020: The U.S. exported $58.5 billion in goods to China.
Bloomberg: “China’s very unlikely to be able to import what was agreed in the January deal, even if it considerably sped up the size of purchases. By the end of of July, China had bought just 28.1% of the target for 2020 of more than $171 billion in U.S. goods, according to Bloomberg calculations based on Chinese Customs Administration data.”
January 2017-July 2017: The U.S. exported $68.8 billion in goods to China.
Washington Post: “Trump said China was ‘more than living up to’ its commitments under his signature trade deal. The facts show the opposite. Instead of booming past 2017 levels, Chinese purchases of U.S. goods are in decline this year.”
China fell far behind on its purchases in key sectors.
Reuters: “China bought only 5% of the targeted $25.3 billion in energy products from the United States in the first half of 2020, falling well short of its trade deal commitments at a time when relations between the two top economies are already sour.”
Reuters: “China is falling far short of a promised additional $77 billion in purchases of U.S. farm and manufactured products, energy and services, although it has ramped up purchases of U.S. farm goods including soybeans and corn in recent weeks. Imports of farm goods have been lower than 2017 levels, far behind the 50% increase needed to meet the 2020 target of $36.5 billion. Beijing has bought only 5% of the energy products needed to meet the Phase 1 first year goal of $25.3 billion.”
Despite data to the contrary, the Trump administration continues to take China at its word that they’re living up to the trade deal.
TRUMP: “They are living — they are more than living up to it. Last week — because they know I’m very angry at them, because this should have never happened. They made the largest order of corn, the largest order of soybeans in history. They made the largest beef order that they’ve done in a long time.”
LIGHTHIZER: “Every contact I’ve had with the Chinese, they have reaffirmed their commitment to living up to the agreement.”
MNUCHIN: “I have every expectation that they will. They have continued to tell us they will, as recently as last week when Secretary Pompeo met with one of the senior people who flew in from China and they had a summit. So I have that expectation that they will live up to their obligation.”
KUDLOW: “Well, look, it—that was originally scheduled as a normal review of the Phase One trade deal. Another, I might add, President Trump accomplishment. Actually, you know, you talked about Lighthizer, our trade ambassador. They’re doing basically what they should be doing. They’re buying a ton of commodities, particularly agriculture commodities. It’s probably the best since we’ve seen in at least a half a dozen years.”
TRUMP: “They’ve been living up to the deal. They’re buying a lot of — a lot of things. They never had any deal. They just came in and took advantage of the United States. Took out hundreds of billions of dollars a year. So they don’t do that anymore.”
Trump has even repeatedly claimed China would buy as much as $300 billion a year.
TRUMP: “But– the deal is a phenomenal deal. We will take in $250 billion– they’re going to be buying $250 billion, and it could go a lot higher than that.”
TRUMP: “So we’ll be taking in an excess of $200 billion; could be closer to $300 billion when it finishes.”
TRUMP: “I did a trade deal with China, where China is supposed to be spending $250 billion in our country.”
Trump’s reckless trade war hurt farmers and his trade aid went to corporations instead of the family farms he promised to help.
NBC News: “As small U.S. farms face crisis, Trump’s trade aid flowed to corporations”
NBC News: “U.S. trade aid mainly benefited large farms in its latest round, undermining a key pledge by the Trump administration and leaving family producers at risk of collapse as the economy entered a recession.”
Wall Street Journal: “More Farmers Declare Bankruptcy Despite Record Levels of Federal Aid”