WASHINGTON — The Coalition for a Prosperous America (CPA) today released a statement regarding the selection of the next Speaker of the U.S. House of Representatives. In CPA’s view, the next Speaker of the House must continue and strengthen efforts to address the serious threat the Chinese Communist Party (CCP) poses to U.S. economic and national security. It is clear that voters overwhelmingly want lawmakers to address China. According to a poll by American Compass, 77% of GOP voters support more tariffs, and a recent Reuters/Ipsos poll found that 66% of Americans are more likely to back a candidate in the 2024 presidential election who “supports additional tariffs on Chinese imports.”
Specifically, the next Speaker of the House should move legislation that would:
- repeal China’s Most Favored Nation (MFN) status;
- strengthen U.S. trade laws to counter China’s continued illegal and predatory trade activity,;
- boost U.S. domestic generic drug manufacturing to address the drug shortage crisis and reduce U.S. dependence on China and India for generic drugs;
- prohibit Wall Street from funding the CCP via U.S. capital markets;
- ban China from using the de minimis loophole to ship products to the U.S.;
- boost U.S. domestic manufacturing and reshore critical supply chains.
“As the House Republicans choose the next Speaker, it is clear that any lawmaker who seeks the position must commit to passing legislation to address the threat posed by China,” said Zach Mottl, Chairman of CPA. “Voters overwhelmingly support additional tariffs on China and are increasingly viewing China as a serious threat to U.S. economic and national security. That is why the next House Speaker should publicly commit to acting on critical China legislation, including by finally passing legislation to revoke China’s MFN status.”
Repealing China’s MFN Status
Last month, CPA released a new economic analysis by the Coalition for a Prosperous America (CPA) found that revoking China’s Most Favored Nation (MFN) status would result in the creation of 2 million new American jobs, increase real household incomes by $3,647, and increase real gross domestic product (GDP) by 1.75%. Earlier this month, CPA published a comprehensive economic analysis of 927 U.S. cities and towns that shows that job loss in manufacturing due to China imports since 2001 has affected almost every community in the U.S., including towns and cities in all 50 states. The trade deficit with China, also known as the “China Shock”, has cost the U.S. 3.4 million manufacturing jobs since 2001.
