Trump trade deal with Europe proves ‘fair and reciprocal’ lowering of trade barriers only sustainable path to free trade

July 26, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising President Donald Trump’s trade agreement with European Commission President Jean-Claude Juncker:

“The U.S-European agreement to zero out tariff and non-tariff trade barriers on non-auto industrial equipment and to lower other barriers for other products is a huge win for the Trump Trade Doctrine and the entire world. It’s proves that the President’s tough approach on tariffs will bring trade partners to the table. Moreover, the President’s determination to get a better deal for the U.S. proves that the only sustainable way to get to free trade is through the ‘fair and reciprocal’ lowering of barriers where all parties act in concert. Whereas past presidents were just fine with the U.S. lowering its barriers while the rest of the world didn’t, finally we have a leader who is fully engaged on trade and will ensure the U.S. is no longer taken advantage of.

“Finally, Trump’s agreement with the EU to reform the World Trade Organization to stop the theft of intellectual property and forced technology transfer by China is another big win for manufacturers, particularly in the technology sector, who have been raided by Chinese companies in the past. This serves notice on China that the WTO will no longer be a vehicle to enable China’s unfair trade practices.

“Real reform at the WTO is imperative. If the WTO cannot hear trade cases when there are hundreds of billions of dollars on the line in a timely manner or address currency manipulation which is a subsidy on goods, then the U.S. will have no choice but to act. Trump’s agreement with the EU should precipitate urgently needed action to fix the WTO.  In the meantime, the U.S. could simply block Chinese imports that violate U.S. intellectual property laws or levy additional tariffs on those that utilize currency depreciation subsidies. China, which runs a huge surplus, has a lot more to lose in a trade battle than the U.S. President Trump has it exactly right to put the outmoded WTO rules on the table. It’s about time.”

Attachments:

“‘Very big day for free and fair trade’ President Trump declares as European trade concessions prove tough tariffs are working,” By Robert Romano, July 26, 2018 at http://dailytorch.com/2018/07/very-big-day-for-free-and-fair-trade-president-trump-declares-as-european-trade-concessions-prove-tough-tariffs-are-working/

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1003 or at media@limitgov.org to arrange an interview with ALG experts.

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