Friday, March 31, 2017

Trump to sign executive orders cracking down on unfair trade

Via Billy

In this Monday, March 27, 2017, file photo, President Donald Trump holds up a pen he used to sign one of various bills in the Roosevelt Room of the White House in Washington. Ignoring fresh threats from the White House, city leaders across the U.S. are vowing to intensify their fight against Trump's promised crackdown on so-called "sanctuary cities" despite the financial risks. (AP Photo/Andrew Harnik, File)

President Trump will sign two executive orders Friday aimed at cracking down on foreign competitors’ unfair trade practices.

Commerce Secretary Wilbur Ross said Mr. Trump will order his department and the U.S. Trade Representative to compile a report within 90 days to identify a broad range of trade abuses “based on hard facts.”

“This will represent the first systematic analysis of what are the causes, country by country, and product by product,” Mr. Ross said. “It will form the basis for decision making by the administration.”

The U.S. has its biggest trade deficits with China, $347 billion; Japan $69 billion; Germany, $65 billion, and Mexico, $63 billion.

While officials didn’t say what action Mr. Trump might take after the report is completed, Mr. Ross indicated it would provide an argument for raising tariffs.

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