How the Real Estate Industry Can Make a Deal with Trump to End Trump’s Anti-China Trade Campaign
California real estate developers are lining up behind a campaign by a Democratic senator to force the Trump administration to end its anti-China trade campaign.
Sen. Kamala Harris, D-Calif., and Sen. Patty Murray, D, Wash., sent a letter to the Department of Commerce last week, calling on the Commerce Department to “immediately rescind President Trump’s anti-Chinese trade executive order.”
The letter calls the order “one of the most significant and dangerous economic policies of the Trump Administration and has the potential to seriously damage U.S. jobs, industry, and economic competitiveness,” and said it would “reduce U.R. trade deficits and potentially even lead to the cancellation of future investment in California.”
The letter says the order is “outrageous” and “counterproductive” and has “not been widely implemented, and there is no evidence it will be enforced.”
It urges Commerce to “explore ways to expedite its review and reconsideration of President Trump.
We urge you to provide the Senate and Congress with a full accounting of all of the facts and the proposed changes that would make California an even stronger place to invest.”
The senators said they will ask the Trump Trade Representative to conduct a “public review” of the order and provide an update within a month.
“We cannot afford to allow President Trump to abuse his bully pulpit to harm our businesses and workers,” the senators said in a joint statement.
“I have long been concerned that the Trump White House has the power to put America at a disadvantage and to take away from the American worker the economic benefits that California is already receiving from its robust real estate market.
It’s time for President Trump and his administration to stop trying to undermine California’s economy and our country.”
California real estate is expected to grow by nearly 5 percent this year, according to the California Association of Realtors, which projects an additional $1.6 billion worth of new residential construction could be completed in the state.
California has been a favorite target of President Donald Trump’s trade campaign, which has focused on shutting down foreign businesses that have made investments in California.
The president has threatened to withhold $100 billion in American tax breaks for companies that move their headquarters to the United States.
Trump has called for the closure of U.K.-based Carrier Corp., which announced in October it would close a plant in Indianapolis that employs about 3,000 workers and save $700 million.
Trump has also threatened to withdraw the U.N. Human Rights Council from the U,S.
unless the council agrees to “stop discriminating against the U.,S.
against other nations.”
Trump’s administration has also proposed cutting $800 million from the National Endowment for Democracy, which is funded by the U; $500 million from foreign governments; and $300 million from an interagency committee to counter “Russian influence” in the U in an effort to discredit the agency.
Trump, who is also running for president, said in December that “we’re not going to let Putin do this to us.”