Speaker Nancy Pelosi

U.S. House of Representatives

SOTU FACT SHEET – President Trump: Failing Hard-Working American Families on Trade

February 4, 2020
Blog

Leading up to President Trump’s State of the Union on Tuesday night, our office is sending out a series of reports entitled “President Trump: Failing Hard-Working American Families” on President Trump’s record since he took office in 2017 and how his claims match up with reality.  This is one of those reports.

IN PRESIDENT TRUMP’S OWN WORDS: 

  • “Our people haven’t paid [the tariffs], as you know… So we’re taking in many billions of dollars.  There’s been absolutely no inflation.  And frankly, it hasn’t cost our consumers anything; it costs China.” [8/1/2019]
  • “I think our tariffs are very good for us. We’re taking in tens of billions of dollars. China is paying for it.” [8/24/2019]

THE FACTS: AMERICAN FARMERS & FAMILIES PAYING HIGH PRICE OF TRUMP TRADE WARS

THE FACTS: TRUMP’S ORIGINAL USMCA DRAFT LET MEXICO KEEP CHEATING AND INCLUDED MASSIVE GIVEAWAYS TO BIG PHARMA

  • President Trump signed into law USMCA that is drastically different than the weak draft agreement he first put forward – transformed by Democrats’ success in rewriting key sections of the agreement for American workers, for prescription drugs, for environmental protections and for creating the strongest enforcement mechanisms of any U.S. trade agreement.   

THE FACTS: TRUMP’S ‘PHASE 1’ TRADE DEAL WITH CHINA FULL OF THE SAME EMPTY PROMISES CHINA HAS BROKEN FOR DECADES

  • New York Times: The U.S.-China Trade Deal Leaves Many Questions Unanswered [1/15/2020]

What the U.S.-China trade deal leaves out:

President Trump and Vice Premier Liu He of China will meet at the White House today to sign a phase-one trade agreement meant to ease tensions between Washington and Beijing. But there are still plenty of unresolved issues.

  • A big one is how seriously China will hold itself accountable, Ana Swanson of the NYT writes. Critics say Beijing’s promises “appear both broad and vague and overlap with other changes it has been pursuing anyway.”
  • Beijing did not pledge to refrain from hacking U.S. companies, particularly to steal intellectual property. Chinese officials say it isn’t a trade issue.
  • Bigger changes to China’s economy, like subsidies to its commercial giants, remain under negotiation.

 

  • Factcheck.org: Trump Exaggerates China Trade Impact on Farmers – “The bottom line […] is that U.S. farmers won’t know the impact of the new trade agreement until the end of this year. What we do know is that the deal won’t ‘boost American agriculture by $50 billion every year,’ as Trump said, and there is no language in it that requires China to purchase a total of $50 billion a year.” [1/31/2020]