U.S.: Trump To Sign Executive Orders On Trade Deficits, Duty Collection
U.S. President Donald Trump is expected to sign two executive orders on trade on March 31, U.S. Commerce Secretary Wilbur Ross and National Trade Council Director Peter Navarro said March 30, World Trade Online reported.
The first order will direct the Commerce Department to conduct a comprehensive analysis of the causes of the U.S. trade deficit. According to Ross, the study will focus on several countries seen as primarily responsible for the deficit: China, Japan, Germany, Mexico, Ireland, Vietnam, Italy, South Korea, Malaysia, India, Thailand, France, Switzerland, Taiwan, Indonesia and Canada. The White House may take action in certain areas before the study is completed, Ross said. The second executive order will focus on enhancing the collection of anti-dumping and countervailing duties by Customs and Border Protection. Some $2.8 billion in duties have been lost since 2001 due to a lack of a bonding requirement at the border and insufficient risk assessments, Navarro said. Trump's team has been weighing its options for slapping tariffs on countries and companies abroad.