I'm not sure how important party platforms are, but they probably have at least some relevance. Here's the section of the Republicans' 2024 platform on trade policy, which has been shaped by Trump's protectionist views on trade:
CHAPTER FIVE: PROTECT AMERICAN WORKERS AND FARMERS FROM UNFAIR TRADE
Our Commitment:
The Republican Party stands for a patriotic “America First” Economic Policy. Republicans offer a robust plan to protect American Workers, Farmers, and Industries from unfair Foreign Competition. We commit to rebalancing Trade, securing Strategic Independence, and revitalizing Manufacturing. We will prioritize Domestic Production, and ensure National Independence in essential goods and services. Together, we will build a Strong, Self-reliant, and Prosperous America.
1. Rebalance Trade
Our Trade deficit in goods has grown to over $1 Trillion Dollars a year. Republicans will support baseline Tariffs on Foreign-made goods, pass the Trump Reciprocal Trade Act, and respond to unfair Trading practices. As Tariffs on Foreign Producers go up, Taxes on American Workers, Families, and Businesses can come down.
2. Secure Strategic Independence from China
Republicans will revoke China’s Most Favored Nation status, phase out imports of essential goods, and stop China from buying American Real Estate and Industries.
3. Save the American Auto Industry
Republicans will revive the U.S. Auto Industry by reversing harmful Regulations, canceling Biden’s Electric Vehicle and other Mandates, and preventing the importation of Chinese vehicles.
4. Bring Home Critical Supply Chains
Republicans will bring critical Supply Chains back to the U.S., ensuring National Security and Economic Stability, while also creating Jobs and raising Wages for American Workers.
5. Buy American and Hire American
Republicans will strengthen Buy American and Hire American Policies, banning companies that outsource jobs from doing business with the Federal Government.
6. Become the Manufacturing Superpower
By protecting American Workers from unfair Foreign Competition and unleashing American Energy, Republicans will restore American Manufacturing, creating Jobs, Wealth, and Investment.
Compare this platform to the Republicans' 2016 platform (there was no new platform in 2020), which offered the more traditional mix of pro-trade and trade-skeptical sentiments that has characterized U.S. trade policy over the last several decades:
International trade is crucial for all sectors of America’s economy. Massive trade deficits are not. We envision a worldwide multilateral agreement among nations committed to the principles of open markets, what has been called a “Reagan Economic Zone,” in which free trade will truly be fair trade for all concerned.
We need better negotiated trade agreements that put America first. When trade agreements have been carefully negotiated with friendly democracies, they have resulted in millions of new jobs here at home supported by our exports. When those agreements do not adequately protect U.S. interests, U.S. sovereignty, or when they are violated with impunity, they must be rejected
We cannot allow foreign governments to limit American access to their markets while stealing our designs, patents, brands, know-how, and technology. We cannot allow China to continue its currency manipulation, exclusion of U.S. products from government purchases, and subsidization of Chinese companies to thwart American imports. The current Administration’s way of dealing with these violations of world trade standards has been a virtual surrender.
Republicans understand that you can succeed in a negotiation only if you are willing to walk away from it. A Republican president will insist on parity in trade and stand ready to implement countervailing duties if other countries refuse to cooperate.
At the same time, we look to broaden our trade agreements with countries which share our values and commitment to fairness, along with transparency in our commercial and business practices. In pursuing that objective, the American people demand transparency, full disclosure, protection of our national sovereignty, and tough negotiation on the part of those who are supposed to advance the interests of U.S. workers. Significant
trade agreements should not be rushed or undertaken in a Lame Duck Congress.
There's a lot to critique in the 2024 version of the trade platform, and others may weigh in with responses to things I left out, but here are a few thoughts.
Starting with a general point, I think that having someone like Trump lead the party is very useful for certain big businesses and other interest groups: He gives them what they want without any need to lobby for it, because he actually thinks tariffs and other forms of protectionism are good policy. The benefits mainly accrue to those groups, but Trump mistakenly believes there is an overall benefit to the economy. For corporations that want to limit the competition they face, you can't ask for anything better than this.
Turning to some of the specifics of the platform, first, even with all the protectionism and industrial policy being tossed around recently, I haven't heard anyone try to come up with a plan for making the U.S. a "manufacturing superpower," as mentioned it item 6 above. There's no question that the U.S. government could, at a cost to the overall economy, protect U.S. production from import competition in the U.S. market. That market is a big one, so U.S. producers can be profitable just by selling in their home market. But I would think that being a "superpower" means exporting to foreign markets too, and on that issue, I'm not sure what the plan is. Limiting competition in the home market has not been enough to help other countries become world market leaders. All of the countries who have achieved this in recent decades (e.g. Germany, Japan, South Korea, China) had an approach that did more than just limit imports. So what is the plan for selling lots of U.S. manufactured goods abroad?
Second, the part about stopping China from "buying American Real Estate and Industries" is interesting, because Trump himself has suggested he would be happy to have Chinese companies build cars in the U.S. This is an area where I think it would be useful to push Trump and other Republicans on exactly what they think. It seems like there is a split here, and it's not clear where they would end up if they tried to reconcile the different views.
And finally, the platform offers a concern with the trade deficit: "Our Trade deficit in goods has grown to over $1 Trillion Dollars a year." It then states, "Republicans will support baseline Tariffs on Foreign-made goods, pass the Trump Reciprocal Trade Act, and respond to unfair Trading practices," suggesting that the platform's authors think these actions will reduce the trade deficit. But unless there is a plan to address the macroeconomic causes of the trade deficit, I don't see how there will be any significant change in the status quo.
