President-elect Donald Trump just shocked everyone by releasing a plan for the first 200 days of his administration in which he will aggressively reshape America’s trade policy, according to a draft memo obtained by CNN.
IJ Review reported that the memo states that Trump’s trade plan “breaks with the globalist wings of both the Republican and Democratic parties” and “will reverse decades of conciliatory trade policy.” In addition, Trump’s administration will try to negotiate “new trade agreements” that put the “interests of US workers and companies first.”
“The 200-day plan is built around five main principles, plus an extra plank on manufacturing jobs,”CNN reported. “First is renegotiating or withdrawing from NAFTA, second is stopping the Trans-Pacific Partnership deal, third is stopping “unfair imports,” fourth is ending “unfair trade practices,” and fifth is pursuing bilateral trade deals. The final focus, to “retain and return manufacturing jobs,” focuses on lowering the business tax rate and eliminating regulations on businesses and restrictions on domestic energy.”
On the first day of his presidency, Trump will start reforming NAFTA, including ordering the Commerce Department and International Trade Commission to begin a study on what the consequences of withdrawing from the treaty would be, and what would be required to do this legislatively.
By day 100, the plan states Trump will target China and try to label the nation a currency manipulator through bilateral trade negotiations. Some experts fear that targeting China may result in a trade war, as seen in the video above this story.
By day 200, Trump will be considering withdrawing from NAFTA completely, but the memo acknowledges the possible consequences of doing so.
When he takes office, Trump will have “Trade Promotion Authority,” a power granted by Congress to move trade deals through Congress faster, until 2018. He may be able to extend this power through 2021.
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