Executive order regarding the omnibus report on significant trade deficits

Omnibus report on significant trade deficits

President Trump on March 31, 2017 signed an executive order that directs the Secretary of Commerce and the U.S. Trade Representative (USTR), in consultation with the secretaries of State Department, Treasury, Defense, Agriculture, and Homeland Security, to prepare a report identifying major trading partners with which the United States had a significant trading deficit. The president has directed that the report include the following information:

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  • Analysis of the cause for the trading deficit with trading partners
  • Analysis of the effects of the trading relationship on U.S. manufacturing and defense industrial bases
  • Analysis of the effects of the trade relationship on U.S. employment and wage growth
  • Identification of imports and trade practices that may be impairing U.S. national security

To assist in preparing the report, the Secretary of Commerce and the USTR may hold public meetings and seek comments from relevant state, local, and non-governmental stakeholders, including manufacturers, workers, consumers, service providers, farmers, and ranchers. 

 

Read the executive order [PDF 173 KB]

KPMG observation

While it is unclear exactly how the Commerce Secretary and the USTR will conduct the fact-gathering and subsequent analysis for the report ordered by President Trump, importers need to stay informed of all activity to determine any potential business impact. 

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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