Trump Claims He Will Ban ALL Imports From China Within Four Years If Elected President
Former President Donald Trump announced trade policy attached to his 2024 run for the GOP presidential nomination on Monday, including a vow to ban all imports from China in four years.
Trump released a video and statement via his PAC detailing the plan.
“The heart of my vision is a sweeping pro-American overhaul of our tax and trade policy to move from the Biden system that punishes domestic producers and rewards outsourcers, to a system that REWARDS domestic production and taxes FOREIGN companies and those who export American Jobs,” Trump declared, adding:
To achieve this goal, we will phase in a system of universal, baseline tariffs on most foreign products. On top of this, higher tariffs will increase incrementally depending on how much individual foreign countries devalue their currency. They devalue their currency to take advantage of the United States, and they subsidize their industries, or otherwise engage in trade cheating and abuse. And they do it now like never before, and we had it largely stopped and it was going to be stopped completely within less than a year.
As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially. And that means a lot of jobs coming in.
Not only will this system end our gaping trade deficits—and they are massive right now—and bring back millions of American jobs—it will also bring trillions and trillions of dollars pouring into the U.S. Treasury from foreign countries and allow us to invest that money in American workers, American families, and American communities.
“We will revoke China’s most favored nation trade status and adopt a four year plan to phase out all Chinese imports of essential goods, everything from electronics to steel to pharmaceutical,” Trump declared.
“We will also adopt new rules to stop U.S. companies from pouring investments into China and to stop China from buying up America, allowing all of those investments that clearly serve American interests. We’re not going to allow bad things to happen to our country anymore. And we will eliminate federal contracts for any company that outsources to China,” the former president added, offering a vision for the global economy returning to isolationism.
Notably, Trump’s trade wars and tariffs on China during his presidency resulted in large-scale federal bailouts of farmers and other subsidies.
Watch the full clip above.
