PILLAR II: PROMOTE AMERICAN PROSPERITY Promote Free, Fair, and Reciprocal Economic Relationships PROMOTE TAX REFORM: This Administration will work with the Congress to create a simpler, fairer, and pro-growth tax code that encourages the creation of higher wage jobs and gives middleincome families tax relief. Reduced business tax rates and a territorial system for foreign subsidiary earnings will improve the competitiveness of American companies and encourage their return to the United States. For decades, the United States has allowed unfair trading practices to grow. Other countries have used dumping, discriminatory non-tariff barriers, forced technology transfers, non-economic capacity, industrial subsidies, and other support IMPROVE AMERICAN INFRASTRUCTURE: Federal, state, from governments and state-owned enterprises to and local governments will work together with private industry to improve our airports, seaports and waterways, roads and railways, transit systems, and telecommunications. The United States will use our strategic advantage as a leading natural gas producer to transform transportation and manufacturing. We will improve America’s digital infrastructure by deploying a secure 5G Internet capability nationwide. These improvements will increase national competitiveness, benefit the environment, and improve our quality of life. gain economic advantages. Today we must meet the challenge. We will address persistent trade imbalances, break down trade barriers, and provide Americans new opportunities to increase their exports. The United States will expand trade that is fairer so that U.S. workers and industries have more opportunities to compete for business. We oppose closed mercantilist trading blocks. By strengthening the international trading system and incentivizing other c ou nt r ie s t o em brac e m a r - REDUCE THE DEBT THROUGH FISCAL The national debt, now over $20 trillion, presents a grave threat to America’s long-term prosperity and, by extension, our national security. By restraining Federal spending, making government more efficient, and by modernizing our tax system and making our businesses globally competitive, our economy will grow and make the existing debt more serviceable. ket-friendly policies, we can R E S P O N S I B I LIT Y: enhance our prosperity. The Administration is The United States distinguishes dedicated to rejuvenating between economic competition the U.S. economy, unleashing the potential of all Americans, and restoring confidence in our free market system. with countries that follow fair and free market principles and competition with those that act with little regard for those principles. We will compete with like-minded states in the economic doma in—pa rticu la rly where trade imbalances exist— S U P P O R T E D U C AT I O N A N D while recognizing that compe- APPRENTICESHIP PROGRAMS: tition is healthy when nations share values and build fair and reciprocal rela- We will support apprenticesh ips a nd workforce development prog ra ms t hat prepa re A mer ica n workers for h ig h-wage manufacturing and science, technology, engineering, and mathematics (STEM) jobs of the 21st century. tionships. The United States will pursue enforcement actions when countries violate the rules to gain unfair advantage. The United States will engage industrialized democracies and other likeminded states to defend against economic aggres- 19