Executive order: Trade agreement violations and abuses | KPMG | US

Executive order: Trade agreement violations and abuses

Executive order: Trade agreement violations and abuses

President Trump recently signed an executive order addressing trade agreement violations and abuses.

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According to the White House release, every trade agreement and investment agreement entered into by the United States, and all trade relations and trade preference programs of the United States, “should enhance economic growth, contribute favorably to the balance of trade, and strengthen the American manufacturing base.” The release further notes that it is the administration’s policy to: 

  • Negotiate new trade agreements, investment agreements, and trade relations that benefit U.S. workers and domestic manufacturers, farmers, and ranchers
  • Protect intellectual property
  • Encourage domestic research and development
  • Renegotiate or terminate any existing trade agreement, investment agreement, or trade relation that, on net, harms the U.S. economy, businesses, intellectual property rights and innovation rate, or the U.S. people

The Secretary of Commerce and the United States Trade Representative (USTR), in consultation with the Secretary of State, the Secretary of the Treasury, the Attorney General, and the Director of the Office of Trade and Manufacturing Policy, will conduct comprehensive performance reviews of:

  • All bilateral, plurilateral, and multilateral trade agreements and investment agreements to which the United States is a party
  • All trade relations with countries governed by the rules of the World Trade Organization (WTO) with which the United States does not have free trade agreements but with which the United States runs significant trade deficits in goods


Read text of the executive order [PDF 173 KB] as released in the Federal Register.

 

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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