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WASHINGTON – Today, the top Republican on the House Ways and Means Committee Rep. Kevin Brady (R-TX) appeared on Yahoo! Finance to discuss President Biden’s surrender of American trade.

“As our economy recovers, we need more workers, we need more customers, and we need to be able to level the playing field and tear down the ‘America need not apply’ signs that we see too often around the world…
 

“Our competitors, whether it’s China, Europe, or others, are out there negotiating agreements to their advantage. When America goes to the sidelines – as we are right now in this de facto trade moratorium – we’re losing out. Certainly our businesses and worker are.”

 

READ: Explainer: President Biden’s Global Tax Hike is Not a Victory for America, but a Surrender

KEY TAKEAWAYS:

• On June 5th, the Biden Administration and other G7 countries announced a so-called agreement for a “15 percent global minimum tax.” This would push all countries to adopt minimum taxes of at least 15 percent on their own companies’ foreign profits.
• Biden’s plan offers foreign countries a sweetheart deal, while his punitive tax on Americans will send jobs to foreign competitors
• With the soon to be released June Jobs Report being a “make or break” moment for President Biden, the last thing America needs are more broken promises and disappointments in the already staggering jobs recovery.

Additionally, Rep. Brady also celebrated the one-year anniversary of the United States-Mexico-Canada Agreement (USMCA).

“Here’s the key thing, [USMCA] strengthens a partnership in North America that has been working.

“Secondly, we modernized key parts of the Agreement that, frankly, did exist when the original NAFTA existed in the digital service area, in the intellectual property area, and in services overall…

“This modern agreement has all the potential for strengthening all three economies.”

READ: USMCA Means Better Partnership Through Better Enforcement