Republican presidential candidate has declared the Chinese government’s alleged currency manipulation “the worst of (its) sins.” The business mogul has written a scathing op-ed accusing China of rigging international trade and has also released policy proposals designed to level the playing field.
“The incompetent, rudderless Obama administration’s negligence in foreign policy, trade and national security is making America less confident, less prosperous and less safe,” Trump writes in a Nov. 9 op-ed published by The Wall Street Journal. “Americans deserve better, and a Trump administration will turn us into winners again.”
Trump takes aim at the September agreement signed by both U.S. President Obama and Chinese President Xi Jinping that is meant to protect both nation’s intellectual property.
The business mogul argues that alleged Chinese cyber attacks on the U.S. have undercut the legitimacy of the agreement.
“That agreement is not worth the paper it is printed on and the Obama administration is not doing a thing to fight back,” writes Trump.
The presidential candidate argues that China’s worst economic “sin” is the government’s alleged manipulation of the yuan, which impacts tariffs placed on U.S.-Chinese trade, according to Trump’s Wall Street Journal op-ed.
There is no international consensus on the definition of trade currency manipulation, making it difficult to level accusations towards a country’s economic practices, according to Fortune.
Trump writes that the Chinese government steps in whenever the market does not favor their economy, leading to a one-sided trading relationship with the U.S.
“ China’s economy is controlled by the government,” Trump writes. “Any notion that their economy is based on a free-market system is simply not true.”
On Nov. 10, Trump’s campaign released a policy plan that lays out his presidential ambitions to combat China’s alleged economic manipulations, Breitbart reports.
The business mogul’s policies begin with declaring China a currency manipulator. Second, he would push for China to end the practice of requiring U.S. businesses to share their technology if they wish to access Chinese markets, Breitbart reports.
Trump’s plan also includes placing tougher standards of Chinese labor and environmental practices, ending their competitive edge in underpaying workers and cutting corners in respecting nature, according to Breitbart.
Lastly, Trump vows to lower U.S. corporate taxes, place incentives in keeping manufacturing jobs at home and cutting down the U.S. debt to China, Breitbart reports.
“The American people need an administration that will tell them the truth and a president who will put America first,” Trump writes in The Wall Street Journal. “That’s what I intend to do.”