Published: Wed, April 12, 2017
Money | By Oscar Reynolds

Trump to sign executive orders targeting trade abuses


President Donald Trump signed two executive orders Friday created to crack down on trade partners taking advantage of the U.S. "Undoubtedly with some of the countries, we'll conclude that there's no real action that should be taken", he said.

"But, these voiceless Americans now have a voice in the White House".

"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 second trade order will fight nonpayment and under-collection of anti-dumping and anti-subsidy duties the United States slaps on many foreign goods.

Just because the country is on the list and has a trade surplus with the USA, that doesn't mean it is an "evildoer", Ross added.

NAFTA is an agreement signed by Canada, Mexico, and the U.S., creating a trilateral trade bloc in North America. "It's been very bad what's been happening to our country, in terms of our companies and in terms of our jobs".

Donald Trump has long complained the USA gets a raw deal on trade, and these executive orders are aimed at ending it.

The executive order calls for the Department of Commerce and the U.S. Trade Representative to come up within 90 days with a report on detailed causes of trade deficits "country-by-country, product-by-product", Commerce Secretary Wilbur Ross said at a briefing previewing the order. "Let's not make this a story about China".

Navarro said the new measures would target United States agencies' failure to collect those duties "like a laser" to collect all anti-dumping taxes owed to the U.S. and "deter the cheaters".

China might look the chief target here, given the size of the deficit, Trump's remarks from the campaign trail and the timing of the executive orders - just days before the President meets his Chinese counterpart Xi Jinping. -China bilateral trade is likely to feature prominently in their discussions on the future of the relationship.

Ross said that the report will look at factors from trade barriers such as tariffs to currency misalignment and other issues that tip the trade balance into the favour of foreign countries.

Trump said before leaving: 'Thank you everybody, you're going to see some very, very strong results very, very quickly.

Niles-area Democratic Rep. Tim Ryan accused Trump of "theatric signings of executive orders that do very little, instead of. the bold action he promised like declaring China a currency manipulator on day one or looking at ways to fix NAFTA".

Any U.S. trade enforcement measures should comply with generally accepted worldwide trade rules and differences between the two countries should be handled properly, an unidentified spokesperson for China's Ministry of Commerce said in a speech on Saturday. India is the ninth biggest trading partner of the US and had a trade surplus of around $26 billion with the U.S in goods trade alone previous year. Ross said the US has never made such an analysis to follow up with trading partners and assess how the trade relationship has worked out or why a deficit developed.

Like this: