Republican Party platform calls for rolling back China’s trade status, reducing regulation, making tax cuts permanent

The Republican Party’s 2024 platform, led by members of former President Donald Trump’s campaign, includes revoking China’s trade status, renews its proposal to impose across-the-board tariffs on imports and recommends making the 2017 tax cuts permanent.

The 16-page platform, adopted by the GOP platform committee and released by the party on Monday, is a much less detailed document than those parties have typically produced in the past. The Republican National Convention begins next Monday in Milwaukee.

The platform mentions “farmer” only in relation to trade proposals. The words “farming” and “rural” do not appear. But the platform also calls for cutting government regulations, an idea that would have broad support among many major farm groups.

“Republicans will restore President Trump’s deregulation policies that saved Americans $11,000 per household and end Democrats’ regulatory blitz that disproportionately hurts low- and moderate-income households,” the platform said, without providing data to back up those savings.

The platform specifically mentions the Biden administration’s emissions standards, which are considered mandatory for electric vehicles.

The tariffs and the revocation of permanent normal trade relations, or PNTR, with China are in a section of the platform titled “Protecting American Workers and Farmers from Unfair Trade.” Both measures could impact U.S. agricultural exports if they lead to retaliatory tariffs.

“The Republican Party stands for a patriotic, ‘America First’ economic policy. Republicans offer a robust plan to protect American workers, farmers, and industries from unfair foreign competition,” the platform says.

“We are committed to rebalancing trade, securing strategic independence, and revitalizing manufacturing. We will prioritize domestic manufacturing and ensure national independence for essential goods and services. Together, we will build a strong, self-reliant, and prosperous America.”

Another provision in the trade chapter calls for strengthening “Buy American” provisions.

Trump has made clear he wants to make permanent provisions of the Tax Cuts and Jobs Act, which was passed in his first year in office and is set to expire at the end of 2025. The provisions include cuts in individual tax rates, a 20% deduction for small business income and a doubling of the estate tax exemption.

The platform does not mention these provisions specifically, but calls for making the “Trump Tax Cuts Permanent” and continues: “Republicans will make permanent the Trump Tax Cuts and Jobs Act provisions that doubled the standard deduction, expanded the Child Tax Credit, and spurred economic growth for all Americans. We will eliminate tip taxes for millions of restaurant and hospitality workers and pursue additional tax cuts.”

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