Friday, March 31, 2017
BREAKING Trump to Issue Two Executive Orders Harassing International Traders
President Donald Trump is about to take the first step in putting into execution his mercantilist anti-free trade protectionist policy.
According to CNN, later today Trump will sign two executive orders aimed at "combating" foreign trade "abuses" that, as viewed by free market economists, contribute to the non-issue of the US trade deficit.
Trump's executive orders will initiate a large-scale review of the causes of the US's trade deficits with some of its largest trading partners and order stricter enforcement of US anti-dumping laws to prevent foreign manufacturers from undercutting US companies.
Briefing reporters at the White House on Thursday, Commerce Secretary Wilbur Ross and Peter Navarro, director of the National Trade Council, insisted the measures were not aimed at putting China on notice ahead of that first meeting between the two world leaders.
"These actions are designed to let the world know that this is another step in the president fulfilling his campaign promise to (tackle trade abuses)," Ross said.
Both Ross and Navarro pointed to steel dumping as an issue affecting the US trade deficit. China is a primary supplier of steel to the US.
As a result of the first executive order, the Commerce Department and US trade representative will compile a thorough accounting of the US's trade deficits with its top trading partners within 90 days. The report will look to determine the extent to which the US trade deficit is a factor of "cheating, unfair trading practices, and currency imbalances."
The second executive order will seek to bolster US agencies' authority to combat "dumping" by foreign companies and countries.
Navarro said $2.8 billion in import taxes imposed against violators of US anti-dumping laws have gone uncollected since 2001.
Navarro said the new measures would target US agencies' failure to collect those duties "like a laser" to collect all anti-dumping taxes owed to the US and "deter the cheaters."
Navarro called the executive orders a "historic moment."
Of course, this "historic moment" can do nothing but lead to the harassment and charging of additional fees on importers, which will do nothing but make products more expensive or less available for American consumers.
at 4:04:00 AM