President Donald Trump signed two executive orders on trade. One order will be related with the review of the huge US trade deficit, the other one will be to fight against dumping policies. He wants to punish countries that have dumping policies, the foreign cheaters.
Homeland Security Secretary John F. Kelly, will cooperate with the secretaries of the Commerce and Treasury departments, to enforce anti-dumping laws. UPI reports that Trump stated that those who break the rules will face the consequences. Dumping takes place when a country exports a product at a lower price than the one it has at home.
Trump believes that US has made a lot of trade agreements that are unfair for the country. He cited a recent survey which shows a growing optimism in the manufacturing sector. Trump promised them action and also a solution.
Trade deficit with China and other countries
Commerce Secretary Wilbur L. Ross, Jr. will review the trade deficit. He stated that the executive orders given by Trump will end doubts about the trade problems. The orders were signed one week before the arrival of Chinese President Xi Jinping. Trump has stated many times that China has unfair trade policies that hurt US. The US trade deficit with China reached $347 billion last year. There are about 40 countries that subsidize their products and export them to US.
Trump also wants to renegotiate the NAFTA (North American Free Trade Agreement), he believes that this deal benefits Mexico. He said that the American worker is his north star and that soon there will be great results. Trump wants to reduce the US trade deficit, he believes that many countries have used dumping policies against United States. Trump has stated that he works for the American people.