Trump targets trade abuses with two executive orders

Cheryl Sanders
April 2, 2017

President Donald Trump directed trade officials Friday to conduct what will be the first country-by-country, product-by-product review of the causes of USA trade deficits, apparently targeting major trading partners such as China and Japan.

Roy said it is very important for Xi and Trump to discuss both the issues where the two countries have common interest, and the areas where the two sides have differences, adding that "it needs to be done in a respectful fashion".

China signaled little inclination to make concessions on trade with the US after President Donald Trump warned of a hard meeting with Chinese leader Xi Jinping at next week's bilateral summit.

President Donald Trump had an apparent glitch Friday afternoon at an Oval Office signing for pair of executive orders: After touting the measures, he neglected to sign them.

The second order calls for a strategy for customs agents to use legal tools to collect anti-dumping duties already owed to the United States.

Mr Ross will lead a comprehensive review accounting for the sources of the $502.3bn trade deficit and report back to the White House after 90 days.

Commerce Secretary Wilbur Ross and National Trade Council Director Peter Navarro were also present at the Friday announcement.

U.S. President Donald Trump waves upon his arrival at the White House from Philadelphia, in Washington D.C., the United States, on January 26, 2017.

The US has a massive trade deficit of USD 347 billion with China, followed by Japan (USD 68.9), Germany (USD 64.9), Mexico (USD 63.2 billion), Ireland (USD 35.9 billion) and Vietnam (USD 32 billion).

Next Thursday President Trump will have his first meeting with Chinese President Xi Jinping.

Lu said the economic and trade ties between China and the USA are a win-win situation and the countries' interests are highly integrated. China is also calling on the U.S. to relax regulations on the export of high-tech products to improve trade relations between the two nations.

WASHINGTON: President Donald Trump will order staff Friday to pinpoint countries and goods responsible for America's almost $50 billion trade deficit, in a protectionist warning shot to trade partners like China. The findings may see Trump pressure China, Japan and other USA trading partners to further open their markets to US goods and services.

"It will demonstrate the Trump administration's intention not to hip-shoot, not to do anything casual, not to do anything abruptly, but to take a very measured and analytical approach", Ross said. "This is a story about trade abuses", he said.

Ross said the report would not focus extensively on currency manipulation, which is under the purview of the U.S. Treasury Department, despite Trump's campaign rhetoric.

"Nothing we're saying tonight is about China, let's not make this a China story", Navarro said.

He blamed the trade imbalance largely on unscrupulous foreign powers, aided by United States special interests that have helped push through "bad trade deals".

He also endorsed the "One China" policy, which has governed the fragile relations between the United States, China and Taiwan for decades, after questioning its legitimacy shortly after his election.

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