Trump directs agencies to examine trade abuses
- Author: Leroy Wright Apr 01, 2017,
Apr 01, 2017, 15:19
"We're going to get these bad trade deals straightened out", Trump said from the Oval Office. "While many countries talk about free trade, they are actually are far more protectionist than we are".
First, I'm signing an executive order to ensure that we fully collect all duties imposed on foreign importers that cheat.
Although Japan is the fourth-largest market for USA agricultural products, the United States is unhappy with market access to the country, the report said, citing "high tariffs" on grains, sugar, citrus, wine, dairy and a variety of processed foods.
The U.S. has a trade deficit - that's importing more goods than it exports - running into hundreds of billions of dollars with China.
Gary Hufbauer of the Peterson Institute for International Economics told the Washington Post that the forceful German response indicated that the Trump administration is "pushing the envelope".
"From a policy point of view, it really goes like a laser at a problem, and it solves it quickly, one that's been going on for 15 years", National Trade Council leader Peter Navarro said.
Not surprisingly, it didn't take long for "Trump walks out" to become a widely-discussed topic on Twitter and other social media outlets, and folks across the nation and around the world felt compelled to share their thoughts about the president so publicly and brazenly dodging the uncomfortable Flynn matter.
"These actions are created to let the world know that this is a president taking another step to fulfil his campaign promise", Mr Ross said.
"Today I'm signing two executive orders that send this message loud and clear, and that set the stage for a great revival of American manufacturing", Trump said in the Oval Office. It invoked a series of American laws that could be used to undermine or bypass what it considers to be adverse trade relations and rulings from the World Trade Organisation.
It will demonstrate the administrations 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.
Research past year by academic economists, including David Autor of the Massachusetts Institute of Technology, found that China's emergence hurt some communities, and they have yet to fully recover.
Japan was rebuked over "the existence of substantial market access barriers" against USA agricultural products and "a variety of nontariff barriers" against American automobiles.
Administration officials have 90 days to finish a country-by-country and product-by-product analysis.
While amounts are not large relative to the overall trade deficit-Germany and France exported respectively $196 million and $179 million worth of steel plate to the United States in 2015-the decision is expressive of a wider agenda.
Still, Ross noted that China is the number one source of the USA trade deficit.
Trump made addressing what he called unfair foreign trade practices a centerpiece of his presidential campaign.
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". "This is a story about trade abuses".
Trump, however, recognizes the potential for an uncomfortable meeting next week in Palm Beach, Fla.
One order commissions a 90-day study of USA trade deficits with some of its largest trading partners to identify potential trade abuses and cheating.
"The well-being of America and the American worker is my North Star", he added.
Ross named 16 countries that the USA runs major trade deficits with. "This also helps improve the trade imbalance between China and the United States".
On Friday, the president signed a pair of executive orders aimed at cracking down on trade abuses.