Trump walks out before signing executive orders

  • Trump walks out before signing executive orders

Trump walks out before signing executive orders

The action, put in motion by one of a pair of executive orders signed by the president, is part of his administration's efforts to reduce America's deficits and address what it says are unfair trading practices. Deficits in trade can also mean that foreign countries and entities are investing in USA assets.

Meanwhile, German Minister for Economic Affairs and Energy Brigitte Zypries on Saturday said that Trump's executive orders on trade deficits and import duty evasion are a sign that Washington plans to move away from free trade and global agreements. Both reports call out China's censorship, over-production of steel, and theft of intellectual property in unsparing terms.

Since 2001, the US Customs and Border Protection Agency has not collected over United States dollars 2.8 billion in these duties, he said.

The second order tightens import rules to ensure the USA collects a missing gap of roughly $2.8 billion in duties slapped against trade partners to ensure those funds are being collected on imports.

Robert Lighthizer, Trump's nominee for post, has yet to be confirmed.

The report, he said, will examine whether deficits are being driven by things like cheating, specific trade obligations, lax enforcement and World Trade Organization rules.

"These actions are created to let the world know that this is another step in the president fulfilling his campaign promise to do several things", said Secretary of Commerce Wilbur Ross.

Both Ross and Navarro also made clear that both executive orders would tackle the sources of the US' trade deficit with China, which Trump argues has led to the loss of millions of USA jobs and the decline of United States manufacturing.

A White House official said he signed the measures later.

Now his administration appears to be taking a more cautious approach.

"They are not just jumping into something".

"We're not here for tweets", Navarro shot back at a reporter who asked about the tweet.

The country-by-country study of the causes of trade deficits could be the basis of trade actions in the future.

Commerce Secretary Wilbur Ross and Peter Navarro, the director of the White House National Trade Council, had watched as Trump touted the orders.

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

Trump has aired these longstanding grievances as he prepares to host China's President Xi Jinping at his Florida resort on April 6th and 7th.

He also signed a second order that seeks to strictly enforce anti-dumping laws. It said these include denying financial or regulatory approvals to companies using foreign-owned intellectual property or that do not conduct research or make products in China.

In response to the move, German Foreign Minister Sigmar Gabriel on Friday urged Brussels to file a complaint at the World Trade Organizaion against the USA over planned duties on steel plate imports from five European Union member countries.

Trump, however, recognizes the potential for an uncomfortable meeting next week in Palm Beach, Fla.

"We must seek constructive dialogue and explain that the reasons for the U.S. trade deficit are not just overseas", the minister said, adding that she would raise the issue in talks with USA counterparts during a trip to Washington next month.

During the campaign, Trump blamed free trade deals for being a key cause of job losses and other American economic problems in an attempt to woo voters struggling with economic difficulties.

The biggest trade deficit was with China, at $347 billion in 2016, a 5.5 percent decrease from 2015 as imports from China fell.

"Nobody has ever made bad trade deals like our country has made", Trump continued, adding that results from his orders will be seen quickly and will build on accomplishments his administration has made in recent weeks.