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Trustee Archive
Trade tariffs impose a cost on products that cross a border, thus raising prices within the country that imposes the tariff. In 2018, President Trump began levying tariffs on China to force it into changing their "unfair trade practices”. But it wasn’t only China we imposed tariffs upon. Other nations including Canada, Japan, the European Union, India and Mexico have all been targeted. Solar panels, washing machines, steel and aluminum were among the first products tariffed, often for reasons of “national security”. China strategically applied its own tariffs on manufactured goods and crops produced in areas with large numbers of Trump supporters.
Advocates claim retaliation by trading partners, and the prospect of further escalation, pose significant risk the world’s economy. American consumers were hurt by higher prices, but our farmers were hit especially hard. There were 595 family farm bankruptcies in 2019, up 20% from the year before. By 2020, our Treasury had paid nearly $44 billion to bail-out farmers and help them overcome the effects of these tariffs. The trade war also significantly damaged the economy and industrial output of Communist China. The Coronavirus pandemic and the trade war are causing many American companies to shift supply chains to other Asian nations such as Viet Nam. Advocates claim these events could lead to a US-China trade decoupling.
After the trade war escalated through 2019, the two sides reached a tentative agreement in 2020 when the Trump administration said China committed to buy an additional $200 billion worth of American exports in 2020 and 2021. However, this agreement expired in 2021 with China failing by a wide margin to purchase American goods and services as agreed, and the trade war continues today.
Pending Legislation: S.153 - Fair Trade with China Enforcement Act
Sponsor: Sen. Mark Rubio (FL)
Status: Senate Committee on Finance
Chair: Sen. Ron Wyden (OR) |
- I oppose reforming current trade war policy and wish to donate resources to the campaign committee of Leader Charles Schumer (NY).
- I support revising trade, finance, and tax provisions with respect to China by:
1.) Directing the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China, and placing a shareholder cap on Chinese investments in certain U.S. entities.
2.) Prohibiting federal agencies from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China.
3.) Requiring the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill expedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on this list.
4.) Amending the Internal Revenue Code to (a) repeal certain reduced withholding rates for residents of China, and (b) provide for the taxation of income received by China on certain U.S. investments.
And wish to donate resources to the campaign committee of Sen. Ron Wyden (OR) and/or to an advocate group currently working with this issue.
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| Winning Option
»» No issues were voted |
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I support revising trade, finance, and tax provisions with respect to China by:
1.) Directing the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China, and placing a shareholder cap on Chinese investments in certain U.S. entities.
2.) Prohibiting federal agencies from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China.
3.) Requiring the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill expedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on this list.
4.) Amending the Internal Revenue Code to (a) repeal certain reduced withholding rates for residents of China, and (b) provide for the taxation of income received by China on certain U.S. investments.
And wish to donate resources to the campaign committee of Sen. Ron Wyden (OR) and/or to an advocate group currently working with this issue.
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- Senator
If elected as a trustee, the campaign committee of Sen. Ron Wyden (OR) will be unconditionally awarded the funds pledged to this issue along with a letter requesting him to favorably consider passing S.153 - Fair Trade with China Enforcement Act.
- U.S. Chamber of Commerce
If elected as a trustee, U.S. Chamber of Commerce will be awarded the funds pledged to this issue along with a letter requesting these funds be used to advocate for increased assistance for farmers and ranchers hurt by the trade war.
About: The U.S. Chamber of Commerce is the world’s largest business organization representing companies of all sizes across every sector of the economy. They count on the U.S. Chamber to be their voice in Washington, across the country, and around the world. For more than 100 years, we have advocated for pro-business policies that help businesses create jobs and grow our economy. American businesses and consumers are bearing the brunt of the global trade war. By now, it’s plain to see that tariffs are inflicting harm on the American economy and will continue to do so unless the administration changes course. The U.S. needs free and fair trade, but imposing tariffs to get there is the wrong approach.
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- No trustee votes received.
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| Poll Opening Date |
February 26, 2024 |
| Poll Closing Date |
March 03, 2024 |
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