Billy Long: President Trump continues to deliver on promise to negotiate better trade deals for the American people

(From Seventh District Congressman Billy Long)

President Trump continues to deliver on his promise to negotiate better trade deals for the American people. 

President Trump and his administration have remained committed to giving the American people a fair deal, and have worked tirelessly to ensure the United States levels the playing field with China. 

In December, after months of tough negotiations, President Trump announced that his administration was finally able to broker a preliminary phase-one trade agreement between the two countries. 

This past Wednesday, the historic phase-one trade agreement was finalized and signed by President Trump and China’s top trade negotiator, Vice Premier Liu He, at the White House.

As one of the world leaders in exports and imports, China has functioned as both a powerful ally and adversary making our ability to solidify a workable trade deal – that has eluded past administrations for decades – especially critical. 

Establishing a mutually beneficial partnership between our two nations and offering a solution to end the contentious trade war was necessary and represents a huge victory for our nation. 

With the signing of the phase-one trade deal, President Trump has secured a historic trade agreement that opens the doors for prosperous trade relations that will drastically boost our economy and grow American industry.

Highlights of the phase-one deal include: protections against intellectual property theft, currency safeguards, and eliminating barriers to the sale of U.S. farm products. China has also agreed to increase imports of American goods and services by at least $200 billion. 

Additionally, phase-one is a big win for farmers, as China agreed to purchase $40-50 billion worth of U.S. agriculture products over the next two years, drastically exceeding all previous purchases.

The largest portion of the trade deal, which includes China pledging to spend an additional $80 billion on U.S. auto parts, aircraft, machinery, medical devices, and semiconductors, and $50 billion in energy supplies, will likely deliver measurable benefits for all Americans. 

The deal also includes incentives for China to hold up their end of the bargain by allowing the U.S. to keep $380 billion in tariffs on Chinese goods that will be revisited at a later date when both countries sit down to assess the deal’s success.

Before the trade wars, China imported around $186 billion a year from the U.S. in 2017. Under this trade deal, which could boost that figure by about $200 billion over the next two years, we could expect an annual growth rate of more than 30% for two consecutive years, the largest ever achieved by U.S. exports.

This phase-one agreement represents a commitment to free, fair, and reciprocal trade that will significantly benefit American industry and promote future growth. 

I applaud the president’s concerted efforts to secure a deal with China, and I am optimistic that future negotiations will be equally successful. Under President Trump, America has seen one of the strongest economies in recent history, and I am confident this trade deal will only make it stronger.