Democratic Leaders heaped scorn on President Trump’s trade deal with China on Wednesday, arguing the president damaged the economy in a prolonged trade battle with Beijing and got little in return. The comments followed a signing ceremony for “phase one” of the deal.
“President Trump’s failed China strategy has inflicted deep, long-term damage to American agriculture and rattled our economy in exchange for more of the promises that Beijing has been breaking for years,” said House Speaker Nancy Pelosi, a California Democrat.
Senate Minority Leader Chuck Schumer of New York offered a similar assessment. “President Trump’s ‘phase-one’ trade deal with China is an extreme disappointment,” he said. “He’s conceding our leverage for vague, unenforceable ‘promises’ China never intends to fulfill.”
Schumer in particular is a long-time China critic who has previously applauded Trump for addressing Beijing’s trade policies but warned that the president was not going far enough.
He faulted the “phase one” deal, signed Wednesday, for not including specific provisions addressing China’s subsidies for its businesses, its preferential treatment for state-owned enterprises, or its dumping of products. He also said that it does not “meaningfully” counter Chinese cybertheft.
“While the history books remember that Nixon went to China, they will also remember that Trump bent to China,” Schumer said at a press conference.
The deal also leaves in place 7.5% tariffs on $120 billion worth of Chinese goods and 25% tariffs on another $250 billion worth of products. China has 5%-25% tariffs on $185 billion worth of U.S. goods. Any lifting of the tariffs will have to come as part of “phase two” talks, White House officials said.
