A. Smith: Biden Admin’s Trade Moratorium Exacerbates Cruel Economy
“The Administration’s refusal to develop a robust and proactive trade strategy has further exacerbated our economic challenges,” Republican Leader of the Ways and Means Subcommittee on Trade, Rep. Adrian Smith (R-NE) writes in a new op-ed for The Hill. Rep. Smith warns that the Biden Administration is missing opportunities to sell more American goods around the world, with the lack of progress in trade negotiations with the United Kingdom being one example of many.
Read the full op-ed here.
While China Pursues New Trade Agreements, The U.S. Is Sitting on the Sidelines.
- “While other countries around the world — including and especially China — continue to pursue new trade opportunities, President Biden is pursuing ‘frameworks’ in the Indo-Pacific and Americas. Whatever their potential merit, these frameworks are no substitute for trade agreements.”
- “By design, they will not open new markets for American products and services — and contain no enforcement mechanisms. Our competitors — including China — will continue to take more of the global market share from American businesses, even if the frameworks are concluded.”
President Biden Has Squandered Historic Momentum on Trade.
- “This Administration began with major trade opportunities and momentum. President Trump, with bipartisan support in Congress, enacted the historic United States-Mexico-Canada Free Trade Agreement (USMCA) in 2020. The world saw this important and historic agreement as a roadmap for other high-ambition pro-American trade deals.”
- “Regrettably, nearly two years later, the Biden Administration has done little to build on the momentum left by the Trump Administration’s efforts, missing opportunities to foster new trade relationships around the world.”
Strong Trade Agendas Support American Workers.
- “Unfortunately, today’s Democrat Party has been captured by extreme progressives, big labor, and radical environmental groups.”
- “The greatest irony is that selling American products abroad supports American workers through competitive wages and leads to manufacturing of high-standard products.”
Republicans Will Continue Fighting for Pro-America Trade Deals.
- “The Trump Administration’s bipartisan work on trade could have served as both a template and motivator for this Administration to pursue pro-America trade deals.”
- “Republicans will continue to press this Administration to pursue a more active trade agenda. A successful trade agenda will require close cooperation with Congress every step of the way; this coordination is not optional.”
Read the full op-ed here.