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Janet Yellen, the Treasury Secretary, confirmed President Biden’s globalist plan this week by saying that the U.S. is “not trying to detach from China.”

Yellen informed Sky News this week, “We are not trying to separate from China. Our economic ties are strong, and the competition, trade, and investment that comes with it is good for both of us. We want to keep it going.”

Yellen went on to say, “We are strengthening our relationship with China” and that the Biden government does not want to “harm progress in China.”

Yellen’s remarks coincide with an increasing number of Republican senators endorsing a proposal to terminate the United States’ free trade agreements with China. These agreements contributed to the closure of 91,000 American manufacturing facilities and roughly five million manufacturing jobs in the United States between 1997 and 2018.

For example, Representative Jim Banks (R-IN) proposed the “Ending Normal Trade Relations with China Act” in July. This bill would bring an end to U.S. free trade with China and put high taxes on Chinese goods coming into the U.S.

In March, Senator Josh Hawley (R-MO) brought the bill to the Senate.

Similar bills, called the “China Trade Relations Act,” have been introduced by Senators Tom Cotton (R-AR), Ted Budd (R-NC), Rick Scott (R-FL), and J.D. Vance (R-OH) to end China’s regular trade relations status. Instead, each presidential government would decide if China could have free trade with the United States.

A recent research study conducted by the Coalition for a Prosperous America discovered that taking away China’s status as a normal trading partner of the U.S. would generate two million jobs and boost the economy by almost two percent.

There would be taxes on goods from China that range from 6.7% to over 70% under the plan. According to the study, real American family income would rise by upwards of $3,600 and American industrial output would rise over six percent.

The study said, “Removing China’s MFN status would have no effect on the U.S. economy or the standard of living in America as we try to gradually separate our economy from China’s. Instead, we think that further separating from China would help the U.S. economy grow, giving Americans more jobs and higher wages and allowing many important manufacturing sectors to recover.”

Author: Scott Dowdy

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