Trump Signs Orders Aimed at Trade Abuse
USAgNet - 04/03/2017
President Donald Trump on Friday made the next move in his bid to reshape U.S. trade policy, signing two executive orders aimed at combating foreign trade abuses that contribute to the U.S.'s half-trillion-dollar trade deficit. Trump's executive orders initiate a
large-scale review of the causes of the U.S.' trade deficits with some of its largest trading partners and order stricter enforcement of U.S. anti-dumping laws to prevent foreign manufacturers from undercutting domestic companies by selling goods at an unfair
The orders marked Trump's latest attempt to follow through on his campaign rhetoric decrying other countries for taking advantage of the U.S.' trade policies.
The signing comes a week before Trump is set to meet with Chinese President Xi Jinping. China, the largest source of the U.S.'s trade deficit, has repeatedly run afoul of the U.S.' anti-dumping laws, and Trump has repeatedly accused the country of hurting the
US economy through unfair trading practices.
Briefing reporters at the White House on Thursday, Commerce Secretary Wilbur Ross and Peter Navarro, director of the National Trade Council, insisted the measures were not aimed at putting China on notice ahead of that first hotly anticipated meeting
between the two world leaders.
As a result of the first executive order, the Commerce Department and U.S. trade representative will compile a thorough accounting of the US's trade deficits with its top trading partners within 90 days. The report will look to determine the extent to which the
U.S. trade deficit is a factor of cheating, unfair trading practices and currency imbalances.