Omnibus Report on Significant Trade Deficits
Headline: Federal Government Ordered to Report on Trade Deficits and Impacts
What it does: Agencies must prepare and submit an Omnibus Report on Significant Trade Deficits within 90 days, assessing causes, effects, and national security risks.
- Requires a report naming foreign trading partners with significant 2016 goods deficits.
- Directs analysis of causes such as tariffs, subsidies, dumping, and IP theft.
- Requires assessment of effects on U.S. manufacturing capacity, employment, wage growth, and national security.
Summary
This order directs the Secretary of Commerce and the United States Trade Representative to prepare and submit an Omnibus Report on Significant Trade Deficits within 90 days. The report must identify foreign trading partners with significant goods deficits in 2016 and analyze causes such as tariffs, subsidies, dumping, intellectual property theft, forced technology transfer, and labor standards.
It also requires assessing effects on U.S. manufacturing capacity, defense production, employment, wages, and national security, and allows public meetings with manufacturers, workers, consumers, farmers, and service providers.
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