Trade deal with China strangles American dream: Rubio – Community News
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Trade deal with China strangles American dream: Rubio

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Florida Republican Senator Marco Rubio said on Wednesday that the landmark bipartisan US-China trade deal negotiated more than 20 years ago paved the way for the current economic pitfalls.

The China Relations Act of 2000 enabled China to become a permanent member of the World Trade Organization (WTO) and opened up the Chinese market worldwide.

But Rubio argued that the “flawed bipartisan consensus” was a “critical flaw” that tripled the US trade deficit within five years, eliminated tens of thousands of US factories and cost US workers an estimated 2.5 billion jobs.

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Senator Marco Rubio walks to a Republican Senate caucus meeting at the US Capitol in Washington.

Senator Marco Rubio walks to a Republican Senate caucus meeting at the US Capitol in Washington.
(Stefani Reynolds/Bloomberg via Getty Images)

“This loss has contributed to historic declines in the employment rate, wages and even marriages of men in the United States,” Rubio said Wednesday at an event at the Hillsdale College Kirby Center in Washington, DC.

“And an American dream…unfortunately, far too many Americans have come to believe that people like her can’t achieve more,” he added.

Rubio said the deal, which is expected to promote democratic values, an open and fair market and help lower costs for American consumers, has become a “geopolitical disaster.”

“Twenty years ago, when you admit China to the World Trade Organization, you’re basically saying that this is a country that follows certain rules,” Rubio told Fox News. “We know they didn’t — we should have known they wouldn’t.”

Rubio argued that China’s ability to “cheat” the system has allowed the Chinese Communist Party (CCP) to expand its reach globally and strengthen its economy, while the US has suffered economic blows.

“They can subsidize their companies. They can ban our companies from doing business there, but their companies can do what they want here,” he continued.

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sen.  Marco Rubio arrives for lunch with Senate Republicans at the Capitol.

sen. Marco Rubio arrives for lunch with Senate Republicans at the Capitol.
(Anna Moneymaker/Getty Images)

The Florida Republican said that when his father was a banquet bartender in 1985, the “Cost of Thriving Index,” produced by Oren Cass, found that it took just 30 work weeks for the average male worker to afford a year of basic necessities to make a meal. to start a family.

“Today, that same index indicates that it would take 53 weeks in a 52-week year to do the same thing,” explains Rubio.

The senator argued that some of the most complex economic problems the US has experienced in the past decade are a direct result of China’s accession to the WTO.

“Cities and counties, entire communities that have been eroded by the loss of these jobs, these factories that depend on China. Why do we have an abundance of supply chains? Because most of the things we buy today are made elsewhere.”

“If they were made in America, or at least in the Dominican Republic or Central America, it would be a lot easier to get those things here. But WTO admission made it possible,” he added.

Lawmakers on both sides of the aisle have increasingly pushed for expanding the US manufacturing market to bring jobs to the state and reduce the CCP’s stronghold on US companies.

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But Rubio said reducing reliance on the Chinese market requires a generational overhaul of consumer expectations.

“To succeed, it must be the work of an entire generation and cross the entire political spectrum. It must become our new consensus,” he concluded.

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