President Donald Trump should use a different approach to tariffs to put pressure on China to change its business practices, he told the anti-tax activist Grover Norquist on Friday.
Just a few hours later, Larry Kudlow, economic advisor to Trump, told CNBC that the President would consider extending the 90-day tariff truce with China if "good" progress was made in trade negotiations. Meanwhile, White House trade policy adviser Peter Navarro, a Chinese hawk, told CNN if there is no agreement during the 90 days, US officials would advance with increased tariffs.
As an alternative to tariffs, Norquist argues that the US leverage what it describes as worldwide outrage over China's protectionist trade policies. "We have as allies here the Europeans who feel mistreated by China for all the same reasons for President Trump and the American business man."
"We have more influence in this fight because the world is behind us, unlike the struggle with Europe or the struggle with Canada and Mexico.The rest of the world says:" We are with the Americans on this. "This is useful," said Norquist, whose group is a powerful force in conservative politics. ATR urges lawmakers and political candidates to sign their Taxpayer Protection Pledge, a written promise to oppose any attempt to raise taxes on US Americans and businesses.
Norquist also suggests that the Trump administration should seek better trade agreements with other nations in Asia to make it easier for companies to "manage their supply chains across Indonesia, through Japan, through the Korea "rather than China.
Aiming to do just that, the Trans-Pacific Partnership, negotiated by the administration of President Barack Obama, was abandoned by Trump days after the inauguration in January 2017, fulfilling an election promise.
However, Norquist said the president could look for better TPP terms as he did when he orchestrated the replacement of the NAFTA, the North American free trade agreement of 1994, with the new USMCA agreement, United States- Mexico-Canada.
"NAFTA is now the treaty formerly known as the Prince, so we can take TPP and say," Hey, you know, it's not that other thing. "He makes some changes. called Norquist, evoking the moment when the late singer Prince changed his name into a symbol to make a point.