Trump promised to bring jobs back to the United States and shrink the trade deficit with other countries, particularly China, by introducing new taxes and other hurdles on imports, including steel and Chinese-made industrial components, and by challenging multilateral alliances and World Trade Organization rules. On his third day in office in 2017, Trump quit the Trans-Pacific Partnership, a 12-country Pacific Rim trade deal negotiated under Obama. His “America First” trade policies sparked a tit-for-tat tariff war with China that left American companies and consumers paying sharply higher duties on about $370 billion in annual Chinese imports, while U.S. farmers and other exporters watched sales to China crumble. Tensions eased with a “Phase 1” trade deal signed in January, but Chinese companies have fallen far short of their commitments to boost U.S. goods purchases under the deal, and no “Phase 2” has materialized.
Trump over Biden Part 22
