Donald Trump has long been an ardent supporter of Jewish interests in the US.
But on Monday, the billionaire real estate developer unveiled a plan to increase pressure on foreign investors to do business with the United States.
The US economy is struggling with high unemployment, high inequality and an aging population, and a spike in Jewish investment in US retail is likely to make things worse.
Trump is planning to impose a one-year ban on all new investment in the jewellery business.
“I don’t want jewellery companies to have to compete with us,” Trump said.
“We don’t need any more jewellies, because they’re killing us.”
Trump has long championed Jewish interests In recent months, Trump has used his presidential campaign to cast his administration as a champion of American Jews.
He has repeatedly called for a ban on Jews entering the US, and the US has made clear it does not want to open its doors to any new immigrants.
In September, the US president signed a new order barring all non-white immigration to the US for 120 days.
Trump’s proposal would also ban all nonwhite immigration from 10 Middle Eastern countries, with the exception of Iran.
Trump is also proposing to impose new rules for foreign investors.
Under the plan, foreign investors will have to be approved by the Trump administration and a review of their business practices by the Treasury Department.
This is likely a response to a backlash by Jewish organizations, including the Anti-Defamation League, that said Trump’s plan was “incompatible with the US Constitution” and was an attack on Jews.
The Trump administration said the ban on new investment was intended to help create jobs in the United the country.
“The US economy continues to struggle and has the highest unemployment rate in the developed world.
It has lost more than 80,000 manufacturing jobs since Donald Trump became president.
“It is not only a threat to our economy, but also to the lives of those who are working in the business of making products for our communities.” “
We are concerned that this policy will create a race to the end, as foreign investment becomes increasingly limited to Jewish companies,” JCRC president and CEO Avi Ben-Ari said.
“It is not only a threat to our economy, but also to the lives of those who are working in the business of making products for our communities.”
‘A new reality’ Trump said that as a result of his executive order, jewellering companies that did not have to open new stores in the country would have to “get ready for a new reality”.
“Our country has become a place where the rich can now live in luxury, and those who can not afford to buy a home will be left out of the real estate market,” Trump told reporters in the White House Rose Garden.
“This is not about the Jews, this is about the American Dream.”
“There will be a tremendous amount of competition,” he said.
He did not elaborate.
A Trump spokesman did not immediately respond to a request for comment.
Meanwhile, the Jewish community was quick to weigh in on the issue.
JCC president and chief executive David Rosen told the New York Times that Trump was proposing a “new reality” for jewellerers.
“There is a tremendous difference between the rhetoric of this president and his predecessor,” Rosen said.
“It was a different time.
There was no such thing as a Jewish state.
President Trump has made no secret of his support for the jeweller’s trade union, the JCC.”
Rosen said that the jeweller’s trade unions were an important component of the American economy and would continue to be important to the country as long as they were able to negotiate with employers on behalf of their members.
For its part, the American Jewish Committee, the nation’s largest pro-Israel lobby, urged the Trump White House to reconsider its plans.
It said the plan would be harmful to American Jews and the American consumer.
“We urge the Trump Administration to reconsider this dangerous and counterproductive plan, and to continue to focus on the positive effects of this policy on American businesses and American consumers,” the AJC said in a statement.