us to review trade pacts looking at abuses
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

US to review trade pacts, looking at 'abuses'

Egypt Today, egypt today

Egypt Today, egypt today US to review trade pacts, looking at 'abuses'

US President Donald Trump
Washington - AFP

President Donald Trump will sign a decree Saturday ordering a review of "violations and abuses" of international trade pacts signed by the United States, including the 164-member World Trade Organization, Commerce Secretary Wilbur Ross announced.

The news came amid of a week of tough talk from the Trump administration on trade matters, with import duties imposed on Canadian lumber and renewed threats to "terminate" US participation in the North American Free Trade Agreement.

"This is an executive order addressing specifically violations and abuses under existing trade agreements," Ross told reporters. "That's what differentiates it from some of the earlier ones we've had. This is focused more narrowly on the agreements themselves."

The decision follows last month's executive order directing the Commerce Department to identify "cheaters," either countries or specific firms, that contribute to the $500 billion annual US trade deficit.

"As far as I can tell, there has never been a systematic evaluation of what has been the impact of the WTO agreement on the country as an integrated whole," Ross said.

He acknowledged that the United States is currently running a trade surplus for the export of services.

But accounting for goods alone, the United States still has a global trade deficit of some $700 billion, 47 percent of which comes from trade with China, he said.

The study will review agreements to ensure they increase US growth and strengthen the country's manufacturing base before recommending remedial actions in 180 days, according to the White House.

The US has 20 free trade agreement partners and 42 bilateral investment treaties, the White House said.

Trump will sign the order on the 100th day of his presidency, a symbolic occasion he will also mark with a Pennsylvania tool factory tour and one of his signature campaign-style rallies.

Earlier in the week the US president hedged his agreement to renegotiate -- rather than exit -- NAFTA, with a warning to Canada and Mexico that the US will jettison the trade accord if there is no "fair deal."

Source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us to review trade pacts looking at abuses us to review trade pacts looking at abuses



GMT 09:23 2019 Friday ,30 August

Testing

GMT 17:09 2017 Friday ,29 December

At least 14 dead in Mumbai fire

GMT 13:44 2017 Thursday ,21 December

Nine-time champion Loeb set for 2018 cameo

GMT 13:08 2017 Tuesday ,26 September

Bahrain's aluminum industry thriving, manned by 12,184

GMT 08:50 2017 Sunday ,03 December

Reza Zarrab, the star witness unnerving Ankara

GMT 18:26 2018 Friday ,14 December

Mashrou’ Leila headline Apple event in Dubai

GMT 12:35 2018 Thursday ,01 November

UN chief appoints new special envoy for Syria

GMT 12:41 2016 Friday ,09 December

Blatter blasts Infantino over lack of respect

GMT 03:22 2011 Thursday ,05 May

The Leela Palace New Delhi opens

GMT 10:13 2015 Saturday ,03 January

Fashion East reveals AW15 men's presentation line-up

GMT 13:24 2017 Sunday ,13 August

Plane makes emergency landing at Cairo airport

GMT 11:06 2016 Thursday ,15 September

WADA urges Russia to stop doping hacks

GMT 14:05 2014 Thursday ,18 December

Airbnb in Amsterdam tourist tax deal, first in Europe

GMT 09:26 2016 Monday ,29 August

Egypt seeks tougher penalties

GMT 09:08 2018 Wednesday ,10 January

Federer eyes fresh 'fairytale' as Slam rivals struggle
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday