Trump vows to 'rip up' all trade agreements

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Republican front-runner Donald TrumpDonald TrumpKasich leaves open possibility of Trump endorsement Sunday shows preview: Clinton picks VP, to accept nomination in Philly Dems pledge floor fight in Philly over superdelegates MORE on Thursday said he would rip up all existing free trade agreements if he wins the White House.

Trump argued that he would greatly improve U.S. relationships with nations such as Mexico and China while lowering trade deficits.

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"I’m going to rip up those trade deals and we’re going to make really good ones,” he said during a campaign stop in Portland, Maine.

He lashed out at 2012 GOP nominee Mitt Romney for saying that a Trump presidency would ruin free trade for the United States.

“Ruin free trade?” Trump said. "If I’m losing $505 billion with China, if I’m losing $58 billion a year with Mexico, in terms of deficit, why do I want that kind of trade for anyway," Trump said.

"Ruin it? Who needs that kind of trade, seriously who needs that kind of trade,” Trump said. 

Earlier in the day, Romney called Trump a fraud and ripped him for his lack of policy proposals.

The trade deficit with China last year soared to $365.7 billion, well below Trump's $505 billion, and was $58.3 billion with Mexico, according to Commerce Department figures.

“We will actually have better relationships with Mexico and better relationships with China, they’ll respect us,” Trump said.

“They don’t respect us now. They think we’re the dumbest people on earth led by the world’s dumbest people," he said.

The 12-nation Trans-Pacific Partnership (TPP), which includes Mexico but not China, could be taken up this year by Congress. 

When asked this week about whether there are concerns that Trump will cause a trade war, Sen. Johnny IsaksonJohnny IsaksonGOP senators to donors: Stick with us regardless of Trump Can Congress tackle chronic illness in Medicare patients? Policymakers take important step toward better end-of-life care MORE (R-Ga.) said that “it’s a long way until November so I wouldn’t hypothecate or predict anything right now.”

“So I hope whoever the next president of the United States is will see value of trade,” he said.