Democratic presidential hopeful and former Texas congressman Beto O’Rourke says he has a plan to end the trade war on “day one” of his administration.
Of course, he would have to win the 2020 vote and right now O’Rourke is polling around 3 percent — far less than frontrunner, former Vice President Joe Biden and just below businessman Andre Yang and Sen. Amy Klobuchar (D-Minn). But in a move to pump some adrenalin into his campaign O'Rourke published his trade plans on Medium.
“On day one,” he writes, he will "end Trump’s trade wars, which have not only failed to curtail China’s economic aggression, but hurt American workers.”
Recognizing that trade can “unlock opportunity for growth for all communities and enhance small businesses across the country,” it continued, “Beto will aggressively pursue smart trade agreements that defend American values and interests. This will ensure American workers are not only protected, but are the most competitive in the world.”
While O’Rourke and supporters might argue that the U.S.-China trade dispute has been bad for the economy, President Trump has stood firm: “Sorry. It’s the way I negotiate,” the president said at the G-7 summit, vowing that the aggressive approach will breed results and save American jobs.
“We have to balance our trading relationship, at least to an extent, and they were unwilling to do that,” Trump continued. “We’ll never have a deal if that happens … but they’re going to do it. China wants to make a deal and if we can, we will make a deal.”
U.S. stock markets have been volatile as a result of the recent trade tension. And the Chines yuan slipped to about to the dollar early this week, taking a dive after the U.S. Treasury Department formally designated China a currency manipulator.
Trump said he would increase existing tariffs on $250 billion in Chinese goods to 30 percent, from 25 percent, and that new tariffs on an additional $300 billion of imports would be at 15 percent, instead of the 10 percent the White House proposed in May.
Meanwhile, as part of O’Rourke plan, the candidate also vowed to delist Chinese companies from U.S. stock exchanges when they don’t agree to make their audit work-papers available for inspection by the U.S. Public Company Accounting Oversight Board.
O'Rourke is just the latest presidential candidate to take to Medium, the social publishing platform. Earlier in August, Sen. Elizabeth Warren (D-MA) wrote about public safety and mass incarceration and former Secretary of Housing & Urban Development, Julian Castro weighed in on protecting animals and wildlife.