NEWYou can now listen to Fox News articles!
The Chinese Communist Party has destroyed millions of American jobs and stolen trillions of dollars of American intellectual property. By its own actions, Beijing has forfeited its preferential trade status with the United States. That’s why we, along with Secretary of State-designate Marco Rubio and Republican Senator Josh Hawley of Missouri, secured a comprehensive repeal of China’s Permanent Normal Trade Relations. Our legislation would strategically decouple the U.S. and Chinese economies and end China’s economic war against American workers and businesses.
In 2000, our country’s leaders gave permission Permanent normal trade relations with China and provided the Chinese Communist Party with open access to the American economy. They believed that China would become freer as it became richer and that our businesses would benefit from fair and free access to more than 1.2 billion Chinese consumers. That simply didn’t happen.
Instead, the Chinese Communist Party is more repressive and the Chinese people are less free. The Chinese government has committed every economic crime imaginable, treated our businesses unfairly, and closed thousands of American factories. Since 2000, more than four million manufacturing jobs have been lost in the United States, and it is estimated that our country loses up to $600 billion each year to intellectual property theft, mostly to China.
TRUMP CRASHES FORMER SEN. DAVID PERDUE AS AMBASSADOR OF CHINA
Beijing also uses its economic influence to censor American leaders, American companies and even American films, entertainment and news. Worst of all, China has used our stolen wealth to build the largest military in the world. Beijing could never have harnessed its current military power without its economic exploitation of our nation.
The special trade relationship with China has hurt the US. FILE: In this Tuesday, Feb. 4, 2020, photo, workers watch a container ship arrive at a port in Qingdao in east China’s Shandong province. (Chinatopix via AP)
CLICK HERE FOR MORE FOX NEWS ADVICE
Over the course of five years, our legislation would phase in 35% tariffs on non-strategic Chinese goods and 100% tariffs on strategically vital Chinese imports, while giving discretionary power to the president to impose additional restrictions on crucial imports.
The gradual increase in these tariffs would give American companies time to rebuild their manufacturing in the United States, train American workers, and adapt to a new business environment free of Chinese corruption and abuse. Our legislation also closes the so-called “de minimis” trade gap, allowing China to send millions of packages to the United States every day completely duty-free.
Our legislation then uses the proceeds from these tariffs to compensate companies targeted by potential Chinese retaliation. While retaliation is expected, we must pursue the best policies for the American people and not allow fear of what China might do to dictate what we do. Additional revenue from the tariffs would be used to strengthen our military and pay off our national debt.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
This bill would reset our relationship with China, create American jobs, rebuild American manufacturing, secure critical supply chains, build our military, and enrich our economy. It would also reverse a more than two-decade-old economic policy mistake that has harmed the American people and enriched the Chinese Communist Party.
There is nothing normal about America’s current trading relationship with China, and we cannot afford for it to be permanent. We look forward to working with President-elect Donald Trump and the incoming Congress to begin a new chapter in US-China relations.
Republican John Moolenaar represents Michigan’s Second District in the United States House of Representatives, where he chairs the Select Committee on the Chinese Communist Party.
CLICK HERE TO READ MORE FROM REP. JOHANNES MOOLENAAR
CLICK HERE TO READ MORE FROM SEN. TOM COTTON
