Washington D.C. – Today, House Foreign Affairs Committee Lead Republican Michael McCaul (R-TX) appeared live on Fox News’ “America’s Newsroom” with Bill Hemmer to discuss how both the phase one China agreement and the USMCA will boost our economy. Key highlights are below.

Click to Watch

On the economic impact of new trade deals: “Texas is the number one exporter to Mexico and number two to Canada. This is going to give another jolt to the economy that’s already doing quite well. I was also in the White House yesterday when the President signed the China trade deal, and he will be in my home state in Austin with my farmers and ranchers. This means $50 billion in agriculture products being exported to China, $50 billion in energy, and I come from a very big energy state. This is the first President significantly to take China head on with respect to the trade imbalances. China has been ripping us off for decades and I really commend the President for taking it head-on to make up for this trade imbalance. There is going to be $200 billion overall in exports to China. We already have a strong economy, Bill, but I met with Larry Kudlow. He said that the USMCA, coupled with the China trade, coupled with the tax cuts we passed, this economy is going to soar in 2020.

On next steps with China: “I think the enforcement provision is the question here. The President’s right, they’ve been stealing our technology, intellectual property. If you want to do business with China, they force these tech transfers. This agreement deals with it. What’s the leverage? The President didn’t take the tariffs off the table. And in fact China is still subjected to these tariffs. He just lowered the amount of tariffs and percentages. He knows he’s a good deal maker. He knows he needs that as leverage to force this agreement and those tariffs can snap back in full force at any time if they are in violation. What I found most interesting when I read through the agreement is it’s all what China has to do and very little about what the United States has to do. China is really giving in quite a bit on this deal.”

On delivering results for the American people: “Talk to my farmers and ranchers, China is challenging us to come up with $50 billion in agricultural products to export. Tell that to my energy companies, $50 billion in exports to China. Manufacturing is $80 billion. I don’t see how Chuck Schumer can say with a straight face that is not going to help the economy. Again, I commend the President, every president before this one has pledged to take China on as they steal and rip off the United States and our economy. This guy has gotten results in the most hyper-partisan time I’ve ever seen on the Hill. We are getting stuff done in spite of all of this impeachment stuff going on.”

###