Trump To Sign Executive Orders To Address US Trade Deficit

Trump To Sign Executive Orders To Address US Trade Deficit

Trump To Sign Executive Orders To Address US Trade Deficit

President Donald Trump signed two executive orders on trade Friday - one dealing with a review of the USA trade deficit and another to strengthen anti-dumping rules and enforcement.

Trump previously said the meeting would be a "difficult one", before signing an executive order on Friday ordering a review of all countries running a trade surplus with the US.

Commerce Secretary Wilbur Ross and Peter Navarro, the director of the White House National Trade Council, previewed the orders at the White House on Thursday night.

The second executive order Trump is to sign Friday calls for using the results of the analysis described above to strengthen the federal government's ability to prevent product dumping and other forms of trade cheating.

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.

Sources in the administration say the orders could allow Trump to avoid detailed trade discussions with the Chinese leader by citing the ongoing study. Some sources of trade deficit, like US oil imports, might not prompt action from the White House.

President Trump walked out on his own Oval Office signing ceremony without actually signing his two executive orders on trade.

President Donald Trump ordered staff yesterday to pinpoint countries and goods responsible for America's almost US$50 billion trade deficit, in a protectionist warning shot to trade partners like China. The action directs the Department of Homeland Security to hold accountable countries or individuals who violate U.S. trade laws.

"The meeting next week with China will be a very hard one", Trump tweeted, in apparent reference to the Mar-a-Lago meeting beginning next Thursday. Its findings would serve as a guideline for the government to develop trade policies going forward in a "very measured and analytical way".

On Thursday Trump tweeted that the meeting with China would be "a very hard one in that we can no longer have massive trade deficits". The idea that China is taking advantage of the USA was a persistent theme for Trump during the presidential campaign. The Department of Homeland Security's (DHS) Customs and Border Patrol would collect the fines. The others listed were: Canada, France, Germany, India, Indonesia, Ireland, Italy, Japan, Malaysia, Mexico, South Korea, Switzerland, Taiwan, Thailand and Vietnam.

China has previously rejected claims that its trade imbalance with the United States has been the result of certain policies adopted in Beijing and that China helps the gap to widen.

The US trade deficit with China ran to $31.3bn (£25bn) in January, according to the US Census Bureau. They were not just a "China story", he said, claiming they were directed at "trade abuses" and the under-collection of duties.

The announcement, which comes just days ahead of Trump's first meeting with his Chinese counterpart, is widely seen as targeting China.

A White House official said he signed the measures later.

Trump has often accused China of unfair trading practices that hurt the US economy.

The US trade deficit in goods and services a year ago with Mexico was $62 billion, but with Canada the US had a surplus of $8 billion.

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