Debt-Fueled Patriotism: How ‘America First’ Policies Ironically Give China More Leverage in U.S. Finances

4 min readOct 27, 2024

Imagine this: there’s this big, shiny tax cut, a golden gift for the richest of the rich, courtesy of Mr. “America First” himself. Now, a guy who’s always banging on about China and “independence” would ideally check who’s picking up the tab. But irony’s got other plans: as the U.S. hacks away at taxes without touching spending, the debt balloons, and guess who’s first in line to buy it? The folks from Beijing.

Here’s the kicker. The 2017 Tax Cuts and Jobs Act already slapped about $1.5 to $2 trillion onto the national debt — yep, trillion with a capital “T.” Now, with talk of expanding these cuts, the carpet’s rolling out for foreign investors, China included, to keep the American economy afloat. So while Trump’s busy waving tariffs like flags, hollering “America First,” China’s getting the coziest seat at the American dinner table — the one their money’s helping to fund.

And debt’s a funny thing; owe someone enough money, and they start making “suggestions.” China’s got a mountain of U.S. Treasuries, and as long as America’s hooked on debt, China’s got the leverage. Want lower interest rates, America? Gotta keep those debt buyers happy. This isn’t just pocket change; we’re talking about a country with a vested interest in how the dollar performs, able to sway American finance just by threatening to pull out or drive up yields. So while folks in Washington chant about independence from China, they’re tying the financial knot even tighter.

This is classic say-one-thing, do-another territory — and economists see it plain as day. They’re out there waving flares, warning that these debt-driven tax cuts crack open the backdoor for foreign influence. The more China buys, the sweeter the U.S. has to keep things, keeping those interest rates in line and hoping China doesn’t upend its grip on all those dollars. That “America First” dream? Starts looking a lot like “China-Approved Stability.”

So, there it is: while trying to boost American autonomy, these tax cuts lock things tighter with a lender whose heart isn’t exactly bleeding red, white, and blue. And the louder the cries of sovereignty get, the more twisted up the reliance on China becomes. Either America faces that truth, or the debt beast keeps growing until someone else decides when and how the bills get paid.

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