Donald Trump made “America First” the theme of his campaign, and then his Presidency.
A central component of that philosophy is Trump’s insistence that foreign countries have been taking advantage of America in trade deals.
Now he’s set to sign an executive order – and it will infuriate the globalists.
Trump is continuing to press forward with his “America First” agenda.
That includes cracking down on unfair trade practices.
One of those practices is known as “dumping”, which is when a foreign competitor “dumps” a product into the United States at below market price and undercuts U.S. firms.
Axios reports on Trumps order:
“The Trump administration is working on an executive order that would initiate investigations into “unfair” product dumping from foreign companies — an action that could lead to tariffs on a wide range of products.
These plans are very fluid, and internal disagreements remain about how aggressive this order should be. Here’s what I’ve learned from administration sources:
Steel and aluminum will be targeted.
Other products, including household appliances, could be targeted as well.
If the investigations result in new import duties — as some senior Trump officials believe should happen — it could make some consumer goods more expensive and could hurt the stock prices of American companies that rely on cheap steel imports. A good number of American manufacturing companies, however, could benefit from this hit to their low-cost competitors.”
Trump recently met with the President of China and discussed trade practices.
After the meeting, it was reported that Trump would issue an executive order on unfair steel dumping practices.
The New York Times reports:
“Sometime after Mr. Xi leaves the United States, these officials said, Mr. Trump plans to sign an executive order targeting countries that dump steel into the American market, an aggressive measure aimed mainly at China.
It is unclear exactly what the order would do or how harsh it would be, but it would be designed to begin to make good on Mr. Trump’s promise during the campaign to redress China’s huge trade surplus with the United States.
In addition, an official said, the White House is moving out a senior economy policy official, Andrew Quinn, who had helped negotiate the Trans-Pacific Partnership, former President Barack Obama’s signature trade initiative.”
But the emerging executive order could be even broader in scope and include more products than steel.
Axios also reports:
“A White House official said this investigation is part of Trump’s effort to protect American jobs and end unfair trade practices like dumping and foreign government subsidization.
“The administration will use the results of that investigation to determine the best path forward, which could potentially include everything from no action at all to the levying of supplemental duties,” the White House official said. “But whichever action we take will be informed by the results of the investigation and not by predetermined conclusions.”
Scope: This investigation could result in penalties that would be much broader than the anti-steel dumping measure the New York Times previewed last week.”
Trump retains the loyalty of his supporters because they see him putting his campaign promises into action.
His latest executive order is yet another example of President Trump putting “America First.”