Trump is right to push for fairer trade terms
I would like to weigh in on the recent trade fight between China and the U.S. It is not unreasonable for the U.S. to push for fairer trade terms with China. The trade deficit is $750 billion per year and growing. The current trade deficit with China is the fault of the previous four U.S. presidents.
President Trump’s complaints are legitimate. China is the world’s second-largest economy and home to 20 percent of Fortune 500 companies, yet considers itself a developing nation that should not be subject to the same trade rules as the U.S. and other developed countries.”
The United States has entered a time of uncertainty over global trade. The proper resolution of serious trade issues is good for the U.S. and the world.
The previous U.S. tax code was uncompetitive, overly complex and loaded with special interest provisions that created winners and losers. The recent changes to the tax code lowered taxes on businesses and individuals.
Many onerous business regulations were also overturned that caused too much red tape, time and effort, that hurt businesses’ growth and that were needed to unleash the potential that was holding back our economy.
China has threatened America that it will have the largest economy and most powerful military by 2030.
The danger of cyberattacks by China against America cannot be overemphasized. Hack attacks against our banks, financial systems, utilities, technology companies, electrical grids, etc., are a threat. It is an arms race. We need to do whatever we can to protect the United States of America.