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[Page S1720]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
CHINA
Mr. SCHUMER. Mr. President, finally, on China, news reports continue
to suggest that President Trump is close to cementing an agreement with
Beijing that, unfortunately for America and for American workers, would
fall far right of expectations.
Earlier this week, the New York Times reported that China is drafting
new laws on foreign investments to pacify the United States, but those
new laws do not include any changes to how China forces American
businesses to transfer technology and know-how as the cost of doing
business.
If our best companies were allowed to sell to China unfettered, they
would have huge amounts of profit, and they would employ huge amounts
of people in America more. China doesn't let that happen, but they can
sell freely here.
The President was right to target China. The President was right to
impose tariffs on China. The President will have taken defeat out of
the jaws of an almost victory if he now backs off for the sake of a
photo op or some brief changes in what China purchases and forsakes
American wealth and American workers, while China is stealing our
wealth and jobs from our workers every single day.
If President Trump accepts a short-term purchase of American goods in
exchange for a reduction in our tariffs without structural reform to
China's predatory trade practices, shame on him. If he thinks that
photo op will help him; it will not. If he thinks a temporary, little
bump in China buying more soybeans or more steel products will help; it
will not. He will lose because one of the best things he has done--
something I, many other Democrats, and many other Americans have
praised him for--will be gone. I have publicly given the President
credit when he has taken on China.
As I said, Americans have lost millions--trillions--of dollars of
wealth and millions of jobs to Chinese IP theft. The President has been
right to challenge China on those issues. His tariffs have brought
China to the negotiating table, but now that China is at the table,
President Trump must not walk away without achieving what he set out to
achieve.
In short, to cut an unacceptable deal--a weak deal, a photo-op deal--
at this stage would be to squander the historic moment to put American
businesses, workers, and inventors on a level playing field at long
last, and it would be viewed as a capitulation by the President on one
of his signature issues. It would be the inverse of what he did on
North Korea.
I yield the floor.
I suggest the absence of a quorum.
The PRESIDING OFFICER. The clerk will call the roll.
The senior assistant bill clerk proceeded to call the roll.
Mr. THUNE. Madam President, I ask unanimous consent that the order
for the quorum call be rescinded
The PRESIDING OFFICER (Mrs. Hyde-Smith). Without objection, it is so
ordered.
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