Filmed on the House floor in June 1996, the footage shows Pelosi urging her fellow lawmakers to confront the “status quo” trade policies that were exacerbating America’s increasing trade deficit with China. She specifically highlighted the imbalance between American tariffs on Chinese imports and the significantly higher tariffs that China levied on U.S. exports.
“In terms of tariffs, it’s noteworthy that the average U.S. MFN [Most Favored Nation] tariff on Chinese goods entering the United States is two percent, while the average MFN tariff on U.S. goods entering China is 35 percent,” Pelosi remarked at the time.
She then posed the question, “Is that reciprocal?” and characterized the U.S.-China trade relationship as detrimental to American jobs. “In terms of employment, this is the largest and most deceptive hoax of all. We lack market access, face prohibitive tariffs, and our exports are specifically restricted, while China gains at least 10 million jobs from U.S.-China trade,” she stated.
Pelosi further emphasized that the U.S. was only benefiting from 170,000 American jobs as a result of this trade relationship.
“The reality is that U.S.-China trade is a job loser,” she asserted. The clip was featured by Fox News host Jesse Watters during a segment on Friday.
This nearly three-decade-old video has resurfaced in light of President Trump’s recent announcement of reciprocal tariffs on China and other countries. Most Democratic lawmakers, including Pelosi, have expressed opposition to this strategy.
During his “Liberation Day” address in the White House Rose Garden on Wednesday, Trump unveiled tariffs aimed at rectifying the U.S.’s trade imbalances globally.
