President Trump Unveils Plan to Reduce America’s Trade Deficit With China
The gap between what the United States imports and what it exports hit a new record last year as foreign goods flooded the country. The overall trade deficit rose 12.2 percent last year to $948.1 billion, with more than a third of that total coming from trade with China. Republican presidential candidate Donald Trump unveiled a plan on February 27 to revoke China’s most-favored-nation status and phase out all Chinese imports of essential goods.
Communist takeover: Since the U.S. Senate voted to give China permanent most-favored-nation status on Sept. 19, 2000, America’s trade deficit with China has risen nearly fivefold, from $80 billion to $383 billion. America now relies on the Chinese Communist Party for everything from electronics to pharmaceuticals to steel. So Donald Trump is recommending drastic action.
Joe Biden claims to support American manufacturing, but in reality, he is pushing the same pro-China, globalist agenda that ripped the industrial heart out of the country. We will revoke China’s most-favored-nation trade status and adopt a four-year plan to phase out all Chinese imports of essential goods, everything from electronics to steel to pharmaceuticals.
Reviving mercantilism: In addition to emphasizing the need for total independence from China, Trump also emphasized the need for tariffs to protect American manufacturers from foreign nations that artificially try to boost their exports via currency manipulation. Under this plan, “higher tariffs will increase incrementally depending on how much individual foreign countries devalue their currency.”
This strategy is likely to be unpopular with U.S. corporations that outsource manufacturing jobs to Third World sweatshops, but it is similar to the strategy America’s Founding Fathers used to make the U.S. an industrial powerhouse in the first place.
Trade war: America has become far too dependent on foreign nations for essential goods, and it desperately needs to take steps to revitalize its manufacturing industry before it is too late. End-time prophecies in Deuteronomy 28, Isaiah 23 and Ezekiel 5 describe the devastating effects that trade war and economic besiegement will have on the United States in the end time.
Yet the main reason this trade war will be so devastating is that America has become addicted to foreign goods. The nation got along fine without Communist China in the 1950s, but it has since embraced a “globalist agenda that ripped the industrial heart out of country.” If America does not turn back to God and the values that make nations great, it will learn the hard way that Communist China is less trustworthy than the Creator of the universe.
Learn more: Read “Superpower Under Siege” from Trumpet editor in chief Gerald Flurry’s book Ezekiel—The End-Time Prophet.