Staff Reports
Amid the ongoing debate on trade, there is a lingering concern about the influence of China. Many politicians and citizens are quick to blame China for various economic challenges, leading to a growing consensus in favor of protectionist trade policies. Despite evidence showing strong growth in the US manufacturing sector and job creation in industries facing Chinese competition, this narrative of fear and skepticism towards China persists.
President Joe Biden and his administration, along with some Republicans, have opted for tariffs on Chinese goods, even at the expense of American businesses and consumers. The push for protectionist measures continues, with former President Donald Trump advocating for even more aggressive actions against China.
How to be anti-China and pro-trade?https://t.co/yfrNUgMO10
— TAS (@SummersDay50) May 31, 2024
In this climate, proponents of free trade find it difficult to counter the prevailing sentiment. The focus has shifted to pursuing trade deals that align with the protectionist agenda, as seen in the pursuit of bilateral trade agreements by the US, such as the deal with Britain. However, even this approach faces challenges, as the political landscape in Britain may hinder any potential trade negotiations with the US.
Amidst the current trade tensions, there is an opportunity to realign the US trade strategy. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes key allies like Australia, New Zealand, and Japan, offers a way to strengthen economic engagement with the Pacific region. Despite initial opposition from former President Trump, there is growing recognition of the potential benefits of joining the CPTPP. This trade agreement presents an opportunity for the US to assert its economic influence in the face of China’s ambitions, while also opening new markets for American businesses.
As the CPTPP gains traction and attracts interest from other countries, including South Korea, the US has the chance to lead this alliance and pursue a trade strategy that supports US farmers, businesses, and takes a strong stance against the Chinese Communist Party. Embracing the Pacific Pact, as it may come to be known, offers a path for Republicans to champion pro-enterprise and anti-CCP policies, providing a compelling opportunity to shape the US trade agenda in a way that aligns with conservative values.
