Trump to Reshape U.S. Trade Policy, Sign New Executive Order

Donald Trump speaking and gesturing

On Friday, United States President Donald Trump is going to continue his efforts to modify the country’s trade policy. He will be reportedly signing two executive orders meant to fight foreign trade abuses and to contribute to the nation’s trade deficit which is of a half-trillion-dollar. The president’s executive orders will have the purpose to review what made the country have such significant trade deficits with its biggest trading partners. Those executive orders will also try to prevent foreign manufacturers from selling goods at a price that is unfair, consequently affecting the American companies. It seems like the president is keeping his promise to encourage American manufacturing. Also, his recent efforts are in agreement with what he said during the presidential campaign. That other countries are taking advantage of the United States’ free trade policies.

A meeting with the Chinese president

Donald Trump’s actions are absorbing as they are coming just a week before his meeting with the Chinese president Xi Jinping. Moreover, China is maybe the biggest exporter to the United States. President Trump accused the nation numerous times of making unfair trade deals, thus strongly affecting the country’s economy. However, on Thursday, the briefing reporters at the White House mentioned that Trump’s executive orders do not have anything to do with the meeting of the two leaders. Also, the president did not mean them to be a warning to China.

The two briefing reporters, Commerce Secretary Wilbur Ross and Peter Navarro, director of the National Trade Council, also said that steel dumping is one of the biggest issues which is now affecting the country’s deficit. According to them, China is the country where the majority of steel dumping is occurring. As a consequence, this strongly influenced the national steel manufacturers and the domestic market.

The money problem

According to what Navarro said, about $2.8 billion in import taxes which the authorities have imposed on those violating the United States anti-dumping laws, have not been collected since 2011. So, the new orders are going to take care of this unwanted situation and target the agencies’ failure to do so. Moreover, the orders are going to force the companies also to collect all the taxes owed to the country. Navarro also praised President Trump’s efforts to repair some damages that have strongly affected the country. He also called those executive orders a “historic moment’.

All in all, it seems like President Donald Trump is still trying to keep his promises and please the people who voted for him. This is indeed a good thing. However, it remains to be seen what those trade executive orders will be all about. Also, how will his meeting with the Chinese president be and what they will discuss in regards to the relationship between their nations? One thing is sure, the president has begun the process of reshaping the country’s trade policy.

Image source: flickr