Posted BY: Teresa | NwoReport
Sen. Tom Cotton (R-AR), joined by Sens. Ted Budd (R-NC), Rick Scott (R-FL), and J.D. Vance (R-OH), introduced a plan to end the United States’ decades-long, job-killing free trade status with China.
In 2001, China entered the World Trade Organization (WTO) with the backing of former President Bush’s administration and was subsequently awarded “permanent normal trade relations status” by the U.S. after congressional approval.
As a result of authorizing U.S. free trade with China, nearly four million American jobs have been eliminated from the U.S. economy from 2001 to 2018 — including almost three million domestic manufacturing jobs, as multinational corporations readily shipped jobs overseas without penalties from the government.
During that same period, at least 50,000 American manufacturing plants closed down.
Cotton’s legislation, the China Trade Relations Act, would end China’s permanent normal trade relations status. Instead, presidential administrations would choose whether or not to authorize China’s free trade status with the U.S.
A majority in Congress would also get the power to override a president’s decision.
Unless you start replacing the industry and farms that have been destroyed in America, ending permanent free trade with China is a really bad idea.