Friday executive orders tackle anti-dumping laws

Andrew Cummings
April 2, 2017

President Donald Trump will sign two executive orders on Friday signaling his intention to begin looking in earnest at USA trade policy.

In another executive order signed by Donald Trump, the Department of Commerce and the Office of USTR (US Trade Representative) have been asked to submit, within 90 days, a comprehensive report on the causes of USA's $700 billion trade deficit.

The executive orders phrased by the Commerce Department and US Trade Representatives targets identifying trade abuses and "non-reciprocal practice" that led to the deficit in trade.

After 90 days, the Commerce Department will report to Trump its findings with details about countries contributing to the United States trade deficit, Ross stated. Navarro said the owed $2.8 billion that hasn't been collected from these types of trade abuse cases over the past fifteen years alone. "It's a very important country, one which the whole world has its eyes on".

But Mr Ross said the presence of a deficit did not necessarily mean that retaliatory or remedial action would be taken. On balance, we have the lowest tariffs and the lowest non tariffs.

Ross said the report will form the basis of future decisions by the Trump administration to tackle trade imbalances.

Trump has portrayed trade deficits as strangling economic growth and devastating factory jobs at home.

Trump said during his campaign that the trade deals the US has with other countries are not fair and pledged to renegotiate or repeal them.

During his campaign trail, Trump had campaigned for revising the trade agreements for making it favourable to the American firms and workers.

"Working and middle class Americans deserve real actions to level the playing field with fair trade, DeLauro, a Connecticut Democrat, said in an emailed statement".

The first thing that Trump did soon after taking charge of the office was to official back from the Trans-Pacific Partnership.

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

"Trump declares war on the Vespa" said a headline in national daily Il Messaggero, reflecting the tone of most of the media coverage on an issue that dominated front pages and topped news bulletins.

During the campaign, then-candidate Trump frequently singled out China as a trade abuser and promised to hold China to account for unfair trade practices, including currency manipulation.

Ross claimed that "there never has been this kind of systemic analysis".

"The real test will be whether President Trump uses the findings to take bold action to crack down on cheating, like Chinese steel overcapacity", said Brown. "Wilbur Ross is going to look at about sixteen different countries with which we run significant trade deficits". We also have no intention of carrying out competitive currency devaluation to stimulate exports.

The study also will examine World Trade Organization rules that Ross said do not treat countries equally, such as on taxation.

"The problem here is that this isn't just money lost to the Treasury", Peter Navarro, who heads the White House National Trade Council, told reporters.

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