Throughout his campaign, Donald Trump has been bombarding the American media and public with angry remarks voicing his displeasure with China, a country that he also happens to love dearly. Yesterday, the presidential hopeful took it up a notch and declared that his first move upon assuming office would be to force Chinese officials to mend their cruel currency manipulating ways.
This hardline stance comes from Trump’s recent trade paper on China which postures to restore American power in the relationship between the two countries. “With Donald J. Trump as president, China will be on notice that America is back in the global leadership business and that their days of currency manipulation and cheating are over,” he writes.
Trump says that American economists believe the Chinese yuan is currently undervalued at a rate of between 15% and 40%, giving Chinese traders a huge advantage over the U.S., causing American trade deficits.
He explains that the problems are rooted in China’s controversial inclusion in the World Trade Organization in January 2000. Former President Bill Clinton fought to include China because he firmly believed that “This agreement is a good deal for America. Our products will gain better access to China’s market, and every sector from agriculture, to telecommunications, to automobiles.” Trump says that the only thing the U.S. got from the deal was the loss of tens of millions of American jobs.
“We must stand up to China’s blackmail and reject corporate America’s manipulation of our politicians,” writes the noted billionaire businessman. To do this, the Republican frontrunner says that he will first formally name China as a currency manipulator with the U.S. Treasury Department when he is in charge.
Here’s his full, easy-to-follow, four step plan: 1) Negotiate with China. 2) Protect intellectual property. 3) Reclaim American jobs. 4) Strengthen America’s negotiation position against China.
Chinese piracy and counterfeit goods will also be stomped out if Trump is elected president next year. “Going forward, we will adopt a zero tolerance policy on intellectual property and theft and forced technology transfer,” he writes. “If China wants to trade with America, they must agree to stop stealing and to play by the rules.”
While not mentioned directly in the report, we assume that when Trump enters the Oval Office he also will immediately start working on a contract with McDonald’s to provide food for select state dinners.
More of Trump’s insight into China below:
By Emily Lam