Statement by Vice President Joe Biden on Trump's Failing Trade Deal with China
New trade figures today confirm what President Trump's own advisors already admitted: Trump's "phase one" trade deal with China is failing — badly. Trump hasn't even managed to secure half of China's purchase commitments under the agreement. This is only the latest setback for a deal that has failed to deliver for the American people literally every step of the way.
Even before the pandemic, Trump's go-it-alone trade war was hammering American workers, small businesses, and farmers: sharply increasing the U.S. trade deficit, causing a spike in farm bankruptcies, and helping to sink American manufacturing into recession. Desperate to distract the country from his disastrous trade policy, Trump settled for a hollow, unenforceable "phase one" deal with Beijing that failed to address the Chinese government's illegal and unfair trade practices. The deal was full of vague, weak, and recycled commitments from Beijing. Under Trump's deal, the Chinese government continues unabated providing harmful subsidies to its state-owned enterprises, stealing America's ideas, and forcing U.S. companies to give away their trade secrets.
Add this to the list of Trump's catastrophic failures on China. He was so desperate for his weak trade deal that he gave China's leaders a pass as the coronavirus was spreading to the United States and turned a blind eye to the brutal crackdown in Hong Kong. On every relevant metric since Trump took office, Beijing's position is stronger and America's is weaker. The United States needs a President who has a record of standing up to Beijing and getting results. My Build Back Better plan positions America to out-compete China through massive support for American manufacturers, a credible commitment to reshoring and protecting U.S. supply chains, and unprecedented investment in American innovation. I'll rally our allies to set the rules of the road and push back on Beijing's aggressive and predatory behavior. Because the American people can compete and win against anyone in the world, including China.
Joseph R. Biden, Statement by Vice President Joe Biden on Trump's Failing Trade Deal with China Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/345050