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Donald Trump signs twin orders to target trade deficits
Trump said the two executive orders would set the stage for a revival of American manufacturing.
Washington D.C: United States President Donald Trump has signed two executive orders to initiate a comprehensive review of U.S. trade deficits, which would start a process leading to implementation of a framework to collect all import taxes levied on foreign exporters that break global trade rules.
Trump said the two executive orders would set the stage for a revival of American manufacturing.
"During the campaign, I travelled the nation and visited the cities and towns devastated by unfair trade policies, probably one of the major reasons I'm here today -- trade. Nobody has ever made bad trade deals like our country has made," Trump said.
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The first order directs the Commerce Department to review the practices that leads to the trade deficit and violations of trade rules.
The second order seeks better collection of anti-dumping and countervailing duties, local U.S. media reported.
"Thousands of factories have been stolen from country. But these voiceless Americans now have a voice in the White House," Trump said adding that under his administration, the theft of American prosperity will end.
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Trump said his administration was going to defend American industry and create a level playing field for the workers.
"President Trump was elected to do everything he can to support American workers and American manufacturers. Together, these two executive orders are a significant step in accomplishing the President's promise to end unfair trade practices once and for all," White House press secretary Sean Spicer said. (ANI)