Nancy Pelosi’s 1996 Tariff Critique Resurfaces Amid Trump’s New Policies

A vintage video of Nancy Pelosi echoing current tariff concerns has emerged amid President Trump’s new tariffs against China. Pelosi criticized the lower American tariffs compared to China’s and described the trade relationship as detrimental for the U.S. workforce. Meanwhile, Trump emphasized the need for reciprocal tariffs. Progressive voices like Sanders have voiced caution against the broad impact of such tariffs on working families.

An archival video featuring Representative Nancy Pelosi from June 1996 is gaining traction as it parallels current tariff policies under President Donald Trump. In the footage, Pelosi advocated for Congress to counteract Chinese tariffs, highlighting that tariffs imposed by China were significantly higher than those from the U.S. on Chinese goods. Specifically, she pointed out that the average tariff on Chinese goods was two percent, whereas American goods faced a 35 percent tariff in China.

Pelosi emphasized the imbalance in the trade relationship, suggesting that it was not reciprocal and termed it a “job loser” for the American workforce. She articulated her concerns about American jobs at risk, stating that only 170,000 jobs were generated from U.S.-China trade, in stark contrast to the ten million jobs benefiting China.

The video resurfaced during a time when President Trump announced new reciprocal tariffs against China and other nations, which had previously faced fewer barriers. In his address, Trump remarked on America’s long history of reduced trade barriers while other nations maintained high tariffs against U.S. exports. For instance, he noted that the European Union has a 39 percent tariff on U.S. goods compared to a 20 percent tariff imposed by the U.S. on EU products.

Pelosi criticized Trump’s tariff proposals this week, claiming they would disrupt the economy and inflate consumer prices. Other progressive lawmakers, including Senator Bernie Sanders, have also voiced concerns, stating that Trump’s tariffs disproportionately benefit the wealthy while harming working families. In a past Senate clip, Sanders had criticized the lack of protective tariffs to maintain manufacturing jobs in the U.S., advocating instead for targeted tariffs to safeguard American workers.

The resurfacing of Nancy Pelosi’s 1996 remarks underscores the ongoing debate surrounding U.S.-China trade relations and tariffs. While both Pelosi and Trump express the necessity of addressing tariff imbalances, their approaches diverge sharply. Progressive lawmakers like Sanders advocate for a more targeted tariff strategy, aiming to protect American jobs without imposing a broad tax increase on consumers. This juxtaposition highlights the complex nature of trade policies and their far-reaching economic implications for American families.

Original Source: www.foxnews.com