Ryan: We're 'Nowhere Close' to a U.S.-China Trade Agreement
Rep. Paul Ryan (R-Wis.), chairman of the House Ways and Means Committee, made the case this morning for the House to pass Trade Promotion Authority.
Ryan, who laid out the plan last week in a FoxNews.com column, was asked by Maria Bartiromo why the measure hasn't passed yet after the Senate fast-tracked it.
He said the House remains on track to pass the TPA and that there are no hold-ups.
Maria then asked why other nations are making trade deals with China, but the United States is not.
Ryan said China simply does not play by the rules and adhere to the United States' standards. The proposed Trans-Pacific Partnership (TPP) includes 12 nations, including the U.S., Japan and Australia, but not China.
"These other countries are agreeing to our cross-border data flow protections, our internet protections, our intellectual property protections, our tariff and our non-tariff barriers, not subsidizing state-owned enterprises. China is nowhere near willing to do that," said Ryan, adding that bad government policies, including on free trade, are hurting U.S. economic growth.
He was then asked about opposition to the TPP by unions, which argue that it will lead to more American jobs being shipped overseas.
Ryan said what he usually tells union members on the subject is that if more markets are opened to American products, it will produce more jobs here at home.
"Right now if a very big company wants to sell in another country, they go make it in that country, they set up a factory in that country, outsource jobs," said Ryan, emphasizing that the trade barriers need to be removed.
Watch the full interview above, and tune in to "Mornings With Maria," each morning from 6 to 9a ET on Fox Business Network.