Wednesday, June 7, 2023
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McCarthy to Go After China’s ‘Most Favored’ Trade Status

'We don’t know what the Bidens did in return for this money...'

(Molly Bruns, Headline USA) , House Speaker Kevin McCarthy, R-Calif., went after China’s most-favored nation trade status, and said the House will move to revoke that position in an interview Wednesday with Fox News host Laura Ingraham.

The policy, first enacted in 2000 by then-President Bill Clinton after China entered the World Trade Organization, has allowed it to continually undercut U.S. trade negotiations, resulting in a massive imbalance of more than $300 billion annually benefiting the geopolitical rival.

“Why should China continue to enjoy most-favored nation status in trade with the United States? Why?” Ingraham asked.

McCarthy responded that the Biden administration backpedaled on any progress toward addressing the trade imbalance, as former President Donald Trump attempted to do by imposing Chinese tariffs, Breitbart reported.

“[W]e’ve watched what the past administration—President Trump—had been able to accomplish with China, standing up to China, so it wasn’t China begging America to talk,” McCarthy said. “China was begging to talk to America.”

Ingraham argued that legislation would still be necessary to regulate the United States’s trade relationship with the Asian superpower—a dubious prospect with China-compromised Democrats and RINOs controling both the Senate and the White House.

Nonetheless, McCarthy said that Republicans could use their powers of oversight and the purse to force some measure of accountability.

“[T]hat’s what our job is, [to] … let our committees take the action to move forward and do just that,” McCarthy said. “That’s what we’re doing.”

The inverview came on the heels of a meeting Wednesday between McCarthy and Taiwanese President Tsai Ing-wen, which spurred threats of retaliation from the Chinese government.

But McCarthy said China would not hold the same sway over him that it did over woke corporations like the NBA, and that America’s relationship with Taiwan was better than ever.

The Biden administration has done very little to hold China accountable for any of its actions, even after the discovery that a spy balloon had succeeded in gathering sensitive military intelligence.

Rep James Comer, R-Ky., who chairs the House Oversight Committee, revealed recently that his investigation into the Biden family’s corrupt business affairs found had identified at least a dozen financial dealings that sought to capitalize on Biden’s access to power.

“We don’t know what the Bidens did in return for this money,” Comer said.

“The lawyer said that it was capital for a business. We haven’t been able to find a business,” he continued. “… Right now, it looks like the Biden family just pocketed this money.”

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