Trump to sign executive orders targeting trade abuses

Wilbur Ross holds a news conference at the Department of Commerce in Washington D.C

He will direct a report in 90 days, but Ross said the administration won't necessarily wait that long to take action.

Pence was left having to awkwardly collect the two orders Trump should have signed.

This comes ahead of the US President's first meeting with Chinese President Xi next week.

The US has a massive trade deficit of USD 347 billion with China, followed by Japan (USD 68.9), Germany (USD 64.9), Mexico (USD 63.2 billion), Ireland (USD 35.9 billion) and Vietnam (USD 32 billion).

White House National Trade Council Director Peter Navarro said that some US$2.8 billion in such duties went uncollected between 2001 and the end of 2016 from companies in some 40 countries.

"Also, some products are just not made in the United States, so it's hard to say someone is an evildoer if they're making a product we can't". Let's not make this a China story.

The order, Trump said, would "ensure that we fully collect all duties imposed on important importers that cheat".

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Trump administration officials have said they plan tougher enforcement of USA trade remedy laws and will initiate more unilateral trade deals. In some cases, for instance, the US simply can't produce enough of a product to meet domestic demand. It has repeatedly expressed its apprehensions against US' anti-dumping laws and Trump has repeatedly accused the country of hurting the USA economy through unfair trading practices.

Ross argued the USA has the lowest tariff rates of any developed country.

This may be an acknowledgement that any meaningful progress with China could be slow, said David Dollar, a former World Bank and U.S. Treasury Department official.

In a second executive order Trump asked the government to better recover trade duties on products that are subsidized by foreign governments or dumped on the United States market. Navarro said this will fortify the collection of penalties on unfairly traded foreign products.

The proposals being considered by USA customs officials could impose more substantial bonding requirements at the border or examine products' risk more stringently.

President Donald Trump walked out of an executive order signing ceremony Friday - without actually signing the orders.

According to reports, China is considered the largest source of the US' trade deficit.

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On Thursday, the US Department of Commerce announced that seven foreign producers dumped certain carbon and alloy steel products in the US.

But Navarro declined to comment, insisting, "We're not here for tweets". The trade gap rose to its highest level since 2012 a year ago, though the imbalance remains below its 2006 high, shortly before the Great Recession struck.

President Trump has criticized China in the past for its trade practices, but both men said the orders aren't meant to single out any one country. Research previous year by academic economists, including David Autor of the Massachusetts Institute of Technology, found that China's emergence hurt some communities and they have yet to fully recover.

"Imports increase consumer choice, and help keep prices low raising the purchasing power for consumers", explains the website of the Office of the United States Trade Representative.

Chinese Vice Foreign Minister Zheng Zeguang on Friday said the U.S.

"President Trump carried OH largely on his promises to correct this massive job outsourcing and very big trade imbalance that has hammered Ohio's workers and businesses since NAFTA's passage", she noted.

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