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Saturday, December 21, 2024

Lawmakers push for repeal of trade status with China

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Congressman John Moolenaar Chairman of the Select Committee on the CCP | Official U.S. House headshot

Congressman John Moolenaar Chairman of the Select Committee on the CCP | Official U.S. House headshot

In a recent op-ed published in Fox News, Representative John Moolenaar (R-MI) and Senator Tom Cotton (R-AR) have called for the repeal of Permanent Normal Trade Relations (PNTR) with China. The lawmakers argue that China's actions have led to significant economic harm to the United States, including job losses and intellectual property theft.

Moolenaar and Cotton assert that since PNTR was granted in 2000, China has not moved towards greater freedom or fairness in trade practices. Instead, they claim that the Chinese Communist Party has become more repressive, leading to unfair treatment of American companies and the closure of numerous factories across the U.S. They estimate that over 4 million manufacturing jobs have been lost and up to $600 billion in intellectual property is stolen annually by China.

The proposed legislation aims to decouple the U.S. economy from China's by phasing in tariffs on Chinese goods over five years. This includes a 35% tariff on non-strategic imports and a 100% tariff on strategically vital imports. The bill also seeks to close a loophole allowing tax-free importation of packages from China into the U.S.

Revenue generated from these tariffs would be used to support businesses potentially affected by Chinese retaliation, strengthen the U.S. military, and reduce national debt. Moolenaar and Cotton believe this approach will reset relations with China, create jobs, secure supply chains, rebuild manufacturing, enhance military capabilities, and improve the economy.

They emphasize their commitment to collaborating with President-elect Donald Trump and Congress to reformulate U.S.-China trade relations.

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