Trump: ‘We Already Have A Trade War And We Are Losing Badly’

Tuesday in Monessen, PA while explaining his trade policies, presumptive Republican presidential nominee Donald Trump said President Ronald Reagan used tariffs to shield America’s semiconductor industry and that presumptive Democratic presidential nominee Hillary Clinton claims those actions “will start a trade war,” the trade war already started and “we’re losing badly.”

Trump said, “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. Number six. I’m going to instruct the U.S. trade representative to bring trade cases against China, both in this country and at the WTO. China’s unfair subsidy behavior is prohibited by the terms of its entrance to the WTO. And I intend to enforce those rules and regulations. Basically I intend to enforce the agreements from all countries, including China. Even, if China does not stop its illegal activities, including its theft of American trade secrets, I will use every lawful — look, in is very easy. This is so easy. I love saying this. I will use every lawful presidential power to remedy trade disputes. Including the application of tariffs consistent with section 201 and 301 of the Trade Act of 1974 and section 232 of the Trade Expansion Act of 1962. And when they say trade expansion, they’re talking about other countries. They’re not talking about us. Because there is no expansion. They get the expansion, we get the joblessness. That’s the way it works. No the going to happen anymore.”

He continued, “President Reagan confronted similar trade measures when semiconductor imports threatened U.S. industry. I remember his tariff on Japanese motorcycles was 45% and his tariff to shield America’s semiconductor industry was 100%. And that had a big impact, folks. A big impact. Hillary Clinton and her campaign of fear will try to spread the lie that these actions will start a trade war. We already have a trade war and we’re losing badly. Badly. She has it completely backwards. Hillary Clinton unleashed a trade war against the American worker when she supported one terrible deal after another, from NAFTA, to China, to South Korea. it doesn’t matter. No matter where she went, the American worker was hurt. And you will be hurt worse than ever before if she becomes president of the United States.”

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