Donald Trump promises to herald US economic resurgence

By: | Published: June 29, 2016 1:11 PM

Criticising the current US trade policies that has wiped out American manufacturing, presumptive Republican presidential nominee Donald Trump has threatened to take punitive actions against China's illegal trade activities while promising to herald a US economic resurgence if elected.

Donald TrumpIn his seven-point action plan on economic independence, Trump devoted considerable speech on China. (Source: IE)

Criticising the current US trade policies that has wiped out American manufacturing, presumptive Republican presidential nominee Donald Trump has threatened to take punitive actions against China’s illegal trade activities while promising to herald a US economic resurgence if elected.

“If China does not stop its illegal activities, including its theft of American trade secrets, I will use every lawful presidential power to remedy trade disputes, including the application of tariffs…,” Trump said in his remarks on economy in the Monessen township of Pennsylvania.

In his seven-point action plan on economic independence, Trump devoted considerable speech on China.

In fact, his last three action plans are all directed against China.

“I’m going to instruct my treasury secretary to label China a currency manipulator, which should have been done years ago. Any country that devalues their currency in order to take unfair advantage of the United States, which is many countries, will be met with sharply. And that includes tariffs and taxes,” Trump said.

“I’m going to instruct the US trade representative to bring trade cases against China, both in this country and at the WTO,” he said.

Noting that China’s unfair subsidy behaviour is prohibited by the terms of its entrance to the WTO, Trump said he intends to enforce those rules and regulations.

“And basically, I intend to enforce the agreements from all countries, including China,” he said.

The business tycoon from New York said if elected the US under his administration would pursue right away to bring back jobs.

“I am going to withdraw the United States from the Trans-Pacific Partnership, which has not yet been ratified,”he said.

Trump said he will appoint “the toughest and smartest trade negotiators” to fight on behalf of American workers.

“I am going to direct the secretary of commerce to identify every violation of trade agreements a foreign country is currently using to harm you, the American worker,” he said amidst applause.

The Republican leader said he would then direct all appropriate agencies to use every tool under American and international law to end these abuses.

In his speech Trump said globalisation has benefited only the rich and not the poor.

“Our politicians have aggressively pursued a policy of globalisation, moving our jobs, our wealth and our factories to Mexico and overseas. Globalisation has made the financial elite, who donate to politicians, very, very wealthy. I used to be one of them,” he said.

Globalisation, he alleged has left millions of workers with nothing but poverty and heartache.

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