When China got into the WTO, that allowed it to sell into any other country within the WTO - not just the United States - at the lowest tariffs that country offered. And the other countries could sell into China at the lowest tariffs that China offered. The problem, right off the bat, was that China had much higher tariffs than everywhere else, so the U.S. and Europe in particular got the short end of that stick.

If you've been to China, you know there are over 100 cities in China, and the pollution levels are just horrific - 60,000 people a year die in Chinese factories and facilities, because they don't have any safety regulations. It's a carnage; it's Dickensian.

The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.

Donald Trump understands China influence. He's been talking about it since 1980. He understands it. The people that are on the other side of this, including his opponent, Hillary Clinton, have been part of every bad trade negotiation we've had since 1993.

Unfair trade practices drive up rents for younger people. They will drive up home prices for first-time home-buyers. So it's not just that we're losing jobs and factories. We're giving away our homes, our businesses, our companies, our technologies.

This is what Donald Trump understands. This is the trade deficit. We run a trade deficit of close to $800 billion a year.

The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years.