Today, U.S. Representative Bill Pascrell, Jr. (D-NJ-09), Ranking Member on the Ways and Means Trade Subcommittee, released the following statement regarding the announcement of new tariffs against China:

“Our trade deficit with China has soared over the past 25 years as wages have been stagnant for the majority of Americans. Despite being promised that China’s accession to the WTO would bring market reforms to China’s economy, we have only seen China embrace economic policies based on state-based control, support, and promotion.

“I have a long record of demanding a new approach to China’s trade cheating, backed up by legislative action. In contrast, Trump talked a big game about labeling China a currency manipulator and narrowing our trade deficit. Yet in February 2017, Secretary Mnuchin declined to label China a currency manipulator and, currently, our trade deficit with China has hit a record high. At the same time, the tax scam bill Trump recently signed into law actually creates more incentives for outsourcing.

“Today’s report confirms the problem we have all known: that China’s intellectual property and technology theft has profoundly harmed U.S. companies and jobs. Dialogue alone has not achieved progress in changing China’s behavior. Bold and aggressive actions for U.S. companies are needed. However, the chaos of this Administration causes me to question whether it has a comprehensive strategy to confront China. And it is unclear what, if anything, the White House has done to shield U.S. companies from Chinese retaliation. I sincerely hope, for the sake of our country, our economy, and our great innovators that the steps the Administration takes will eventually be effective. But this Administration has made us lots of promises with minimal results.”