Omnibus Report on Significant Trade Deficits

Apr 5, 2017

Summary

Requires a big report to find out why the U.S. buys more from some countries than it sells to them, and what problems this might cause.

What problem does this solve?

The United States has a large trade deficit, meaning it buys much more from other countries than it sells to them, which may be caused by unfair practices. This order requires a detailed report to identify the causes of these deficits and their impact on the U.S. economy and security.

What does this order do?

Requires a major report on trade deficits

Orders the Secretary of Commerce and the United States Trade Representative to create an 'Omnibus Report on Significant Trade Deficits' for the President.

Identifies causes of trade imbalances

The report must assess the main causes of trade deficits with specific countries. This includes unfair taxes, intellectual property theft, and other practices that hurt U.S. businesses.

Examines impact on U.S. jobs and industry

The report must look at how trade relationships affect U.S. manufacturing, the defense industry, jobs, and wage growth.

Assesses national security risks

Requires the report to identify any imports or trade practices that could be harming the national security of the United States.

Sets a 90-day deadline for the report

The Secretary of Commerce and the U.S. Trade Representative must prepare and give the report to the President within 90 days of the order.

Who does this affect?

U.S. businesses involved in international trade
Foreign countries trading with the U.S.
Federal agencies managing trade policy

What is the real world impact?

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Gathers information for new trade policies

Provides policymakers with a detailed report on the causes of trade deficits. This information helps them make informed decisions to strengthen the U.S. economy and relationships with trading partners.

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Lays the groundwork for trade restrictions

Creates a formal report that could be used as evidence to justify imposing taxes or other limits on goods from countries identified as having unfair practices. This could lead to trade disagreements.

When does this start?

This order takes effect immediately and sets a 90-day deadline for a report to be completed.

Submission of Omnibus Report on Significant Trade Deficits

The Secretary of Commerce and the U.S. Trade Representative must submit their report to the President within 90 days of March 31, 2017.