Page 16 - THE SOUTH CHINA BUSINESS JOURNAL
P. 16
South China Business Journal
HIGHLIGHT
Photo from bing.com
More Executive Orders on
Trade Issued
On April 29, President Trump signed two trade-related strengthen the American manufacturing base. Many United
Executive Orders: one establishing the Office of Trade States free trade agreements, investment agreements, and trade
and Manufacturing Policy (OTMP) within the White House and relations have failed, in whole or in part, to meet these criteria.
another aimed investigating and addressing trade violations The result has been large and persistent trade deficits, a lack of
and abuses. The OTMP is tasked with “defending and serving reciprocal treatment of American goods and investment, the off-
American workers and domestic manufacturers while advising shoring of factories and jobs, the loss of American intellectual
the President on policies to increase economic growth, decrease property and reduced technological innovation, downward pres-
the trade deficit, and strengthen the United States manufactur- sure on wage and income growth, and an impaired tax base.
ing and defense industrial bases.” The OTMP will be run by Peter
Navarro, who will be directed to “serve as a liaison between the It is the policy of the United States to negotiate new trade agree-
White House and the Department of Commerce and undertake ments, investment agreements, and trade relations that benefit
trade-related special projects.” American workers and domestic manufacturers, farmers, and
ranchers; protect our intellectual property; and encourage do-
The second presidential action directs the Secretary of Com- mestic research and development. It is also the policy of the
merce and the U.S. Trade Representative to conduct comprehen- United States to renegotiate or terminate any existing trade
sive performance reviews of all bilateral, plurilateral, and multi- agreement, investment agreement, or trade relation that, on net,
lateral trade agreements and investment agreements along with harms the United States economy, United States businesses,
all trade relations with countries governed by the rules of the United States intellectual property rights and innovation rate, or
World Trade Organization where there is not have a free trade the American people.
agreement but where the U.S. runs significant trade deficits in
goods. The Executive Order states: The mandated reviews are required to be submitted to the Presi-
dent within 180 days and will be used to “help guide United
Every trade agreement and investment agreement entered into States trade policy and trade negotiations” while also directing
by the United States, and all trade relations and trade prefer- executive agencies to take appropriate and lawful actions to rem-
ence programs of the United States, should enhance our eco- edy and address violations and abuses of trade law.
nomic growth, contribute favorably to our balance of trade, and
14
HIGHLIGHT
Photo from bing.com
More Executive Orders on
Trade Issued
On April 29, President Trump signed two trade-related strengthen the American manufacturing base. Many United
Executive Orders: one establishing the Office of Trade States free trade agreements, investment agreements, and trade
and Manufacturing Policy (OTMP) within the White House and relations have failed, in whole or in part, to meet these criteria.
another aimed investigating and addressing trade violations The result has been large and persistent trade deficits, a lack of
and abuses. The OTMP is tasked with “defending and serving reciprocal treatment of American goods and investment, the off-
American workers and domestic manufacturers while advising shoring of factories and jobs, the loss of American intellectual
the President on policies to increase economic growth, decrease property and reduced technological innovation, downward pres-
the trade deficit, and strengthen the United States manufactur- sure on wage and income growth, and an impaired tax base.
ing and defense industrial bases.” The OTMP will be run by Peter
Navarro, who will be directed to “serve as a liaison between the It is the policy of the United States to negotiate new trade agree-
White House and the Department of Commerce and undertake ments, investment agreements, and trade relations that benefit
trade-related special projects.” American workers and domestic manufacturers, farmers, and
ranchers; protect our intellectual property; and encourage do-
The second presidential action directs the Secretary of Com- mestic research and development. It is also the policy of the
merce and the U.S. Trade Representative to conduct comprehen- United States to renegotiate or terminate any existing trade
sive performance reviews of all bilateral, plurilateral, and multi- agreement, investment agreement, or trade relation that, on net,
lateral trade agreements and investment agreements along with harms the United States economy, United States businesses,
all trade relations with countries governed by the rules of the United States intellectual property rights and innovation rate, or
World Trade Organization where there is not have a free trade the American people.
agreement but where the U.S. runs significant trade deficits in
goods. The Executive Order states: The mandated reviews are required to be submitted to the Presi-
dent within 180 days and will be used to “help guide United
Every trade agreement and investment agreement entered into States trade policy and trade negotiations” while also directing
by the United States, and all trade relations and trade prefer- executive agencies to take appropriate and lawful actions to rem-
ence programs of the United States, should enhance our eco- edy and address violations and abuses of trade law.
nomic growth, contribute favorably to our balance of trade, and
14
