HOLY SH!T: Bipartisan congressional commission urges end to China’s favorable US #trade status! Why is US-China Economic & Security Review Commission suggestion to suspend #China Permanent Normal Trade Relations (PNTR) a big dang deal? Read on🧵@USCC_GOV uscc.gov/annual-report/…
2/ During the epic 2000 battle over China being granted endless PNTR “most favored nation” status to join WTO, Pres. Clinton, blocs of Dems and GOP in Congress and The Very Serious People slammed anyone against “China PNTR” as idiots & protectionists with no vision for the future
3/ China PNTR boosters claimed it was a foreign policy cure-all. It would moderate China’s authoritarian govt, improve human & labor rights, & enhance China’s cooperation on many national security challenges, while ensuring new access to China's market that would create US jobs.
4/ So, the @USCC_GOV recommendation that Congress consider TERMINATING China’s favorable "PNTR" trade status is stunning. But actually it also perfectly captures the seismic shift in favor of upending what has proved to be a failed China and broader trade policy approach..
5/ History has proved @SpeakerPelosi, Dem Whip David Bonior @SenSanders @SenSherrodBrown @rosadelauro @RepMarcyKaptur @RalphNader et al were spot on about what a terrible idea #ChinaPNTR was and the damage it would cause to American workers while worsening human rights in China.
6/ The mass outsourcing of industrial capacity and loss of 70,000 U.S. manufacturing facilities and 5 million manufacturing jobs - plus global concentration of production in China - leaves the U.S. unable to make or reliably acquire critical medical supplies, solar cells, etc.
7/ There’s 500 pages every year since 2011 of @USCC_GOV reporting about how (badly) China PNTR is working out. Or read my testimony to the commission on that record. uscc.gov/sites/default/…
8/ Or for a vivid short take, read what Robert Cassidy, the former Clinton China negotiator, thinks. His post-retirement piece, “Our Trade Deal Failed,” got him a big smack down for Trade Team Status Quo, who did not appreciate his honesty or admissions. alternet.org/story/87540/fo…
9/ By reconsidering China’s PNTR status, Congress could help forge a new trade policy that creates good jobs & a more inclusive economy, rebuild American manufacturing & improve our resilience & security. It’s obvious we need a new China trade approach, to start with...
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