Sen. Schumer Blasts GOP for Advancing Dangerous Judicial Nominations to Second Circuit
Statement by Sen. Chuck Schumer
News reports continue to suggest that President Trump is close to cementing an agreement with Beijing that, unfortunately for American workers, would fall far short of expectations. Earlier this week, the New York Times reported that China is drafting new laws on foreign investment to pacify the United States. But those new laws DO NOT INCLUDE any changes to how China forces American businesses to transfer technology and know-how as the cost of doing business. Our best companies, if they were allowed to sell in China unfettered, they would have huge amounts of profit and they would employ huge amounts of people here in America. China doesn’t let that happen, while they can sell freely here. The president was right to target China. President Trump will have taken defeat out of the jaws of an almost victory if he now backs off for the sake of a photo-op or some brief changes in what China purchases, and forsakes American wealth, American workers which China is stealing. They are stealing our wealth, un-employing our workers every single day.
If President Trump accepts a short-term purchase of American goods in exchange for a reduction in our tariffs, without structural reform to China’s predatory trade policies, shame on him. If he thinks that photo-op will help him, it won’t. If he thinks that temporary little bump in China buying more soybeans or soy products, it won’t. He will lose, because one of the best things that he has done, something I’ve praised him for, and many other Democrats, and many other Americans have, will be gone.
I have given the President credit, publicly, when he’s taken on China. America, as I said, has lost trillions of dollars of wealth, millions of jobs to Chinese IP theft. The President has been right to challenge China on those issues and his tariffs have brought China to the negotiating table – but now that China is at the table, President Trump must not walk away without achieving what he set out to achieve.
In short, to cut an unacceptable deal, a weak deal, a photo op deal, at this stage would be to squander a historic moment to put American businesses, workers, and inventors on a level playing field at long last. And it would be viewed as a capitulation by the president on one of his signature issues. It would be an inverse of what he did on North Korea.
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