Trump vows to sharply scale back economic ties with China

Bloomberg September 8 | Updated on September 08, 2020

US President Donald Trump   -  Bloomberg

To forbid companies that do business with Beijing from winning federal contracts

US President Donald Trump said he intends to curb the US economic relationship with China, contrasting himself with Joe Biden by threatening to punish any American companies that create jobs overseas and to forbid those that do business in China from winning federal contracts.

“We’ll manufacture our critical manufacturing supplies in the US, we’ll create made in America tax credits and bring our jobs back and we’ll impose tariffs on companies that desert America to create jobs in China and other countries, Trump said at a White House news conference on Monday where he complained at length about his Democratic re-election opponent.

“If they can’t do it here, then let them pay a big tax to build it some place else and send it into our country,” he said of US corporations. “We’ll prohibit federal contracts from companies that outsource to China and we’ll hold China accountable for allowing the virus to spread around the world.”

Trump has recently entertained the idea of decoupling the US economy from China, a dream of US China hawks.

“Whether its decoupling or putting massive tariffs on China which I’ve been doing already,” he said. “We’re going to end our reliance on China because we cant rely on China and I don’t want them building a military like they re building right now and they’re using our money to build it.

He did not say when he would implement the policies but framed the moves as part of a second-term agenda.

“If Biden wins, China wins because China will own this country,” Trump said. “Its the most important election in our history, right now, most important election in our history. Under my administration we will make America into the manufacturing superpower of the world and well end our reliance on China once and for all.”

Trump has sought to make China an election-year issue. He has portrayed Biden as a lackey of Beijing and has blamed the country for the US coronavirus outbreak, as polls show widespread public disapproval of the president’s handling of the pandemic.

Biden has turned the argument against the President, accusing Trump of being soft on China to secure a so-called phase-one trade deal in January and only toughening his posture after his administration lost control of the coronavirus outbreak.

Published on September 08, 2020

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