With markets tanking and the Trump administration under fire for the president’s ‘reciprocal’ tariffs, White House Press Secretary Karoline Leavitt tried to turn the tables by bringing up Nancy Pelosi‘s past comments inveighing against China tariffs.
Leavitt brought up the former House House Speaker’s long record of resisting efforts to grant China preferred trading status – delivering a walk-off speech at the end of her White House briefing Tuesday.
‘Democrats have long said that the United States of America has been ripped off by the countries around the world. They just don’t want to admit it now, because it’s President Trump who is saying that,’ said Leavitt.
‘In June of 1996, Nancy Pelosi spoke on the House floor. She urged her colleagues at the time to fight against the status quo trade policies that have contributed to America’s trade deficit with China,’ she said.
‘In fact, Nancy Pelosi said: ‘How far does China have to go? How much more oppression. How big a trade deficit? How many jobs have to be lost for the American workers. How much dangerous proliferation has to exist before members of this House of Representatives. Well I say, “I will not endorse the status quo,”‘ Leavitt quoted Pelosi as saying.
‘Those are the words of Nancy Pelosi in 1996. Well, President Trump is finally answering her call. Twenty-seven years later. Nancy Pelosi can thank President Trump today for the 104% retaliatory tariff that will be going into effect on China in 2007.’
Pelosi was among a band of Democrats who argued against granting China Permanent Normal Trade Relations status. The move helped China rocket to expand its economic power, although its closed political system has remained.
Karoline Leavitt quoted Rep. Nancy Pelosi’s blasts against China trade from the 1990s
Leavitt also quoted Senate Minority Leader Charles Schumer speaking about the ‘crippling trade deficit.’
She spoke after Pelosi’s past comments surfaced on Fox News.
Leavitt’s briefing Tuesday afternoon came after three successive market plunges following Trump’s announced tariffs. She also gave an unexpected response to a feud between Elon Musk and Trump trade advisor Peter Navarro, saying ‘boys will be boys.’
Her other comments on China did not appear to soothe markets, as she reasserted that Trump’s new 50% tariff would take effect at 12:01 AM Tuesday. The tariffs set off a global selloff, with heightened fears of inflation or even a recession.
‘It was a mistake for China to retaliate. The president, when America is punched, he punches back harder. That’s why there will be 104% tariffs going into effect on China tonight at midnight, but the president believes that Xi and China want to make a deal,’ she said. ‘They just don’t know how to get that started.’
Leavitt brought up former Speaker Nancy Pelosi’s comments blasting China tariffs from the 1990s
Pelosi inveighed against tariffs that China slapped on U.S. goods amid a debate on ‘most favored nation’ status
Leavitt said tariffs on China set to total 104% would take effect after midnight
Then she tried to reassure: ‘If China reaches out to make a deal, he will be incredibly gracious.’
She said Trump believes ‘believes that China wants to make a deal.’
Pelosi ripped Trump’s tariffs in an April 4 statement.
‘The Trump Administration’s flagrant ineptitude is tanking our economy in a self-inflicted disaster that leaves hardworking American families bearing the brunt of the pain,’ she said.
‘Make no mistake: President Trump’s senseless tariffs will drive prices higher, drain retirement savings and push us to the brink of recession.’ She quoted Ronald Reagan warning against protectionism, including blasting the infamous Smoot-Hawley tariff of 1930.
Pelosi, one of the wealthiest members of the House, has seen her own finances tank as the stock market swooned.
Trump cabinet members also saw their own stock investments shrivel.
The S&P 500 index was down 1.6% Tuesday, while the Dow Jones Industrial Average dropped 0.84% The value of Wall Street investments has dropped by trillions since last week.
This article was originally published by a www.dailymail.co.uk . Read the Original article here. .