The Republican National Committee (RNC) is planning to revoke the most favored nation status of the Chinese regime in an effort to restore fair trade globally, as outlined in the party’s draft 2024 party platform.
China was granted most favored nation status as part of its accession to the World Trade Organization (WTO) in 2000. Revoking this status, which has provided China with permanent trading privileges for 24 years, is aimed at helping the United States achieve strategic independence from the Chinese regime, according to the 16-page “Make America Great Again!” platform.
This move would eliminate preferential trade treatment for China, including lower tariffs on industrial and agricultural goods exported to the United States, as well as reduced trade barriers.
In addition to revoking the most favored nation status, the Republican platform aligns with former President Donald Trump’s agenda of strengthening the U.S. economy, cutting taxes, addressing illegal immigration, promoting American energy independence, and other key issues.
The RNC has approved the platform, which will be officially adopted at the RNC convention in Milwaukee on July 15.
The platform emphasizes an “America First” economic policy with pillars such as deregulation, tax cuts, fair trade deals, energy security, and innovation.
The Republican Party vows to rebalance trade, promote strategic independence, revitalize manufacturing, prioritize domestic production, and ensure national self-sufficiency in essential goods and services.
Trump Supports Draft Platform
Several Republican lawmakers have called for revoking China’s PNTR status due to concerns about human rights abuses, intellectual property theft, trade deficits, and other issues.
The Chinese Communist Party has denied these allegations repeatedly.
The Republican platform also aims to phase out imports of essential goods and prevent China from acquiring American real estate and industries.
Under the section “Protecting American Workers and Farmers from Unfair Trade,” the platform includes measures such as baseline tariffs on foreign goods, passage of the Trump Reciprocal Trade Act, and addressing unfair trade practices.
The platform highlights the growing U.S. goods trade deficit and emphasizes the potential for lower taxes on American workers and businesses as tariffs on foreign producers increase.
Former President Trump has expressed support for the draft platform, calling it a “forward-looking agenda” that will be quickly implemented upon winning the White House and Republican majorities in Congress.
Overall, the platform reflects a commitment to common-sense policies and a strong stance on trade issues.
Lawrence Wilson contributed to this report.
Please rewrite this sentence.
Source link
