At least if he has it his way.
The Republican presidential candidate has been notoriously not in favor of the country’s current trade policies, and in trying to rally a host of Pennsylvania residents at a metals recycling facility Tuesday, Trump promised he would pull out of TPP if he makes it to the Oval Office.
He also vowed to pull out of NAFTA if his renegotiation efforts don’t take, and revisit China’s World Trade Organization membership.
The problem, as Trump puts it, is that America became the most dominant economy by becoming the most dominant producer, which in turn created the world’s biggest plan. But then the “elites who’ve led us to one financial policy disaster after another” started promoting development in other countries instead of the U.S. and everything essentially fell apart.
“This wave of globalization has wiped out our middle class,” Trump said, adding, “It doesn’t have to be this way. We can turn it all around—and we can turn it around fast.”
His plans for TPP
Trump holds little back about his disdain for TPP.
He said simply in his speech, “The TPP would be the death blow for American manufacturing,” adding, “It would give up all of our economic leverage to an international commission that would put the interests of foreign countries above our own.”
The pending trade deal is first on Trump’s list of seven trade issues to target—and by targeting it, Trump means getting out of the deal altogether.
His exact words were: “I am going to withdraw the United States from the Trans-Pacific Partnership, which has not yet been ratified.”
TPP, Trump said, will make it easier for our trade competitors to ship cheap subsidized goods to the U.S. while foreign countries put trade barriers before American exports. Further, the trade deal would open domestic markets to “currency cheaters,” like China.
“Mark my words, China will be in this deal at a later date, if we don’t stop it—they will come in through the back door.”
Further, according to Trump, getting out of the deal is the only way to right some of America’s trade wrongs.
“There is no way to ‘fix’ the TPP,” he said. “We need bilateral trade deals. We do not need to enter into another massive international agreement that ties us up and binds us down.”
His plans for NAFTA
NAFTA, the trade deal with the United States, Canada and Mexico that took effect in 1994, was, according to Trump, “the worst trade deal in history.”
As such, nixing NATFA in its existing form is fourth on the list of Trumps trade “reforms.”
“I am going to tell our NAFTA partners that I intend to immediately renegotiate the terms of that agreement to get a better deal for our workers,” he said during the speech. “And I don’t mean just a little bit better, I mean a lot better. If they do not agree to a renegotiation, then I will submit notice under Article 2205 of the NAFTA agreement that America intends to withdraw from the deal.”
His plans for China
China’s entrance into the WTO, Trump said, “has enabled the greatest jobs theft in history.”
Trump wants the U.S. Trade Representative to bring trade cases against China both in the U.S. and with the WTO.
“China’s unfair subsidy behavior is prohibited by the terms of its entrance to the WTO, and I intend to enforce those rules.”
He also wants to call China out as a currency manipulator.
“Any country that devalues their currency in order to take unfair advantage of the United States will be met with sharply, and that includes tariffs and taxes,” he said.
In his third of seven targets aimed directly at China, Trump said if China doesn’t stop stealing American trade secrets, he will use “every lawful presidential power” to remedy those trade disputes, including applying relevant tariffs.
His plans for America
Brexit was either ill or perfectly timed (depending on how you look at it) to fuel Trump’s arguments about “reclaiming” the country.
“Our friends in Britain recently voted to take back control of their economy, politics and borders,” he said. “Now it’s time for the American people to take back their future.”
Trump assured that it’s not his plans that will prompt a trade war—the war began when “one terrible trade deal after another” garnered support.
“The era of economic surrender will finally be over,” Trump said. “A new era of prosperity will finally begin. America will be independent once more.”