Donald Trump just gave a speech on trade policy. It's full of nonsense, but honestly, it's not much different than you would hear from other politicians (many Democrats and some Republicans).
Here are his recommendations for change:
There is no way to “fix” the TPP. We need bilateral trade deals. We do not need to enter into another massive international agreement that ties us up and binds us down.
A Trump Administration will change our failed trade policy - quickly
Here are 7 steps I would pursue right away to bring back our jobs.
One: I am going to withdraw the United States from the Trans-Pacific Partnership, which has not yet been ratified.
Two: I'm going to appoint the toughest and smartest trade negotiators to fight on behalf of American workers.
Three: I'm going to direct the Secretary of Commerce to identify every violation of trade agreements a foreign country is currently using to harm our workers. I will then direct all appropriate agencies to use every tool under American and international law to end these abuses.
Four: I'm going tell our NAFTA partners that I intend to immediately renegotiate the terms of that agreement to get a better deal for our workers. And I don't mean just a little bit better, I mean a lot better. If they do not agree to a renegotiation, then I will submit notice under Article 2205 of the NAFTA agreement that America intends to withdraw from the deal.
Five: I am going to instruct my Treasury Secretary to label China a currency manipulator. Any country that devalues their currency in order to take advantage of the United States will be met with sharply.
Six: I am going to instruct the U.S. Trade Representative to bring trade cases against China, both in this country and at the WTO. China's unfair subsidy behavior is prohibited by the terms of its entrance to the WTO, and I intend to enforce those rules.
Seven: If China does not stop its illegal activities, including its theft of American trade secrets, I will use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent with Section 201 and 301 of the Trade Act of 1974 and Section 232 of the Trade Expansion Act of 1962.
So he's against the TPP, and wants to renegotiate NAFTA ... but he's pro-WTO and pro-bilateral deals.
Needless to say, none of this makes any sense. He is simply criticizing terms he thinks people don't like -- TPP and NAFTA -- and then proposing "better" trade deals, without explaining in what way they would be better. Much of what he says is just uninformed nonsense. (His renegotiated NAFTA will be "a lot" better, not just a "little bit better." Wow, I'm sold! "A lot" is more than "a little bit," so I definitely support his plan over the inferior plans of other people.) Other proposals are things we already do (WTO cases against China).
Overall, I think it's best not to get bogged down in what any of this means, because it doesn't mean much of anything. If Trump gets elected, there are much bigger problems to worry about than trade. And if he gets elected, regardless of what he previously said on trade, there is really no telling what he would actually do because he doesn't seem to have any idea what's in a trade agreement.
