Trump signs executive orders on US trade deficit, duty collection
President Donald Trump signed on Friday executive orders directing the US Department of Commerce to carry out a review on the causes of the trade deficit and ways to improve duty collection, Sputnik reported.
The one of the orders focuses on a major review of the reasons behind US ever-growing deficit, as the other addresses issues of related to antidumping and countervailing duties.
"First, I am signing an executive order to ensure that we fully collect all duties imposed on foreign importers that cheat," Trump said during the signing ceremony. "Second, I am ordering the first ever comprehensive review of America’s trade deficits and all violations of trade rules."
The president noted that Commerce Secretary Wilbur Ross will lead the review. Trump added that his actions are setting the stage for "a great revival" of manufacturing in the United States.
At present, the United States has trade deficit with such countries as China, Japan, Germany, Mexico and Ireland.
At the same time, the United States lost about $2.8 billion in duties since 2001, National Trade Council Director Peter Navarro said on Thursday.