"I respect President-elect Trump for fulfilling his campaign promise to withdraw from TPP," Representative Kevin Brady, Republican of Texas and chairman of the powerful House Ways and Means Committee, said shortly after the election. "We can't abandon these markets to China and other competitors because American businesses and customers will lose out," he added.

... But massive tariffs appear too much to abide. Both Mr. Ryan and Senator Mitch McConnell, Republican of Kentucky and the majority leader, supported a bill that gave Mr. Obama and his successor special "fast track" authority to negotiate trade agreements, and are proponents of reducing tariff barriers.

"Tax cuts and deregulation will make the American economy great again, but tariffs and trade wars will make it tank again," said David McIntosh, president of the conservative group Club for Growth in a statement, adding, "The majority leader is right to caution against protectionism and to urge a robust debate on free markets and trade."

House leaders want to tackle the problem of companies moving operations overseas with a broad rewriting of the corporate tax code, which they say will make American manufacturing more competitive without resorting to punitive measures on individual companies.

"Tough talk plays well with his base and is arguably even long overdue," said Brian Walsh, a Republican consultant and former official at the National Republican Senatorial Committee. "But ultimately the legislative focus will be on tax reform and deregulation versus tariffs and trade wars. I don't believe Republicans will let a golden opportunity to finally pass comprehensive tax reform to fall victim to intraparty squabbling."

Comments: Be the first to add a comment

add a comment | go to forum thread