Among the two orders Trump signed, the first one seeks a comprehensive review of the massive Trade Deficit that is being faced by the United States which totals around USD 500 billion every financial year with 16 countries. President Donald Trump has also signed a second executive order which is very useful for enforcing the anti-dumping laws. This law would ensure that the country fully collects all duties imposed on foreign traders that cheat. "They're cheaters. From now on, those who break the rules will face the consequences and there will be very severe consequences," Trump said without naming any country.
Donald Trump may have targeted China
These twin executive orders signed by Trump to target cheating foreign importers come into act just days ahead of the president's meeting with his Chinese counterpart Xi Jinping. While some Chinese news sources like Qstheory opined that this meet of Trump and Xi Jinping would build up their relationship with the United States, the new laws passed by the president seem to be targeting China and its trade with the U.S.
However, the officials belonging to the Trump administration have insisted that the latest announcement of the president does not single out that country. They also clarified that China is one among all other 16 countries mentioned by Trump and that decree would target only those who break the U.S.
laws of trade.
Violations behind the trade deficit
These two trade laws seek a deficit review that will examine forms of "trade abuse," taking a country-by-country look over 90 days at cheating, lax enforcement, and currency misalignment. "The results from my orders will be seen quickly," Trump said while signing the orders on Friday.
"Nobody has ever made bad trade deals like our country has made," the president added.
Commerce Secretary Wilbur Ross repeatedly emphasized that this report will provide the White House with an empirical basis on which to make decisions about the trade. It will allow the Trump administration take a "measured and analytical approach" and not do anything too casually or abruptly, he said.
