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[Page S1638]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
China
Madam President, finally, on China, recent news reports have
described an emerging trade deal with China that would see the United
States ease up on tariffs in exchange for the Chinese buying more
American goods and making some--some changes to its trade practices.
As the New York Times reports this morning, ``The agreement does not
appear to require the sweeping changes to China's economy that prompted
Mr. Trump to begin the trade war.'' If the reports about the emerging
agreement are accurate, I would say to President Trump, you are heading
down a precarious road.
The President's instincts were right when he took a hard line on
China. I supported his hard line on China. China is killing us in terms
of stealing our intellectual property, in terms of not letting American
companies compete fairly in their large market while they are allowed
to come here, in terms of not creating a level playing field for
companies no matter what country they are from.
The President was right when he said we have to do something about
it. In fact, as he began on this road, he did a lot more than previous
Presidents. Both President Bush and President Obama did less to get
China to understand the seriousness of this problem than President
Trump did. He knows that.
When you are getting close to a victory, to relent at the eleventh
hour without meaningful, enforceable, and verifiable structural reform
to China's trade policies would be an abject failure of the President's
China polices, and people will shrug their shoulders and ask, what the
heck did he begin this for if he will not complete it?
We need to put an end to the forced transfer of American technology
and American know-how as a ransom for doing business in China. We need
to put an end to China's systemic theft of American intellectual
property. A big hack from China was found out just last month. Our
companies need the same unfettered access to China's markets that we
allow Chinese firms to have to markets in America.
This may be our last shot. If the President squanders his own efforts
now, there will be lasting and untold consequences for generations to
come.
The President is too focused on trade imbalances. That is short term.
Those come and go. The reason our trade balance is so bad is because of
all of the structural things China does to make it harder for us to
export to China and easier for them to import here after stealing a lot
of our know-how. A temporary narrowing of the trade deficit would be
cold comfort to the millions of American workers who have suffered and
will continue to suffer the abuse of China's policies.
When the President was headed to North Korea, I said to him: When it
comes to North Korea, don't let March go in like a lion and come out
like a lamb.
The President did the right thing on North Korea, and I got up here
and said that he did. He backed out when the North Koreans wouldn't
give him much and resisted the opportunity of a photo op, which we know
is hard for him to resist. He should do the same thing on China.
He got a lot of credit for backing out on North Korea. The President
will get a lot of credit if he stands up to China and will eventually
win because the Chinese economy is hurting. They just reduced their own
biased estimates on growth. It is lower.
My plea to President Trump is this: Stand firm. We will win this
fight that you correctly began, but don't back off for some temporary
salve. America's future depends on it. The income of our workers and
the number of good-paying jobs we create all depend on our standing
tough with China right now when we sort of have them where we want them
and completing a strong deal. Please, Mr. President, don't back off.
When it comes to China trade and your actions, don't let March come in
like a lion and go out like a lamb.
I yield the floor.
The PRESIDING OFFICER. The Republican whip.
