President Donald Trump signed two executive orders on Friday, which lay the groundwork for fulfilling key campaign promises to make trade more fair.
“Thousands of factories have been stolen from our country, but these voiceless Americans now have a voice in the White House. Under my administration, the theft of American prosperity will end,” Trump said Friday.
Speaking from the Oval Office, Commerce Secretary Wilbur Ross said these orders mark the “beginning of a totally new chapter in the American trade relationship with our partners overseas.”
“If anyone had any doubt about the president’s resolve to fix the trade problems, these two executive orders should end that speculation now and for all time,” Ross said.
Trump said “the well-being of America and the American worker is my north star.” These new orders are proof of that mission, he said.
For all of Trump’s passionate rhetoric, the two orders are small first steps in an ambitious trade agenda that seeks to revitalize American manufacturing.
The first executive order commissions a report on trade practices that contribute to the trade deficit, while the second seeks better collection of anti-dumping and countervailing duties.
The report, spearheaded by the Commerce Department and U.S. Trade Representative, aims to identify every trade abuse and “non-reciprocal practice” that contribute to the trade deficit.
Within 90 days, the report will go back to the Oval Office detailing specific causes for the deficit, country by country, product by…