PILLARS OF TRADE POLICY: President Donald J. Trump’s Trade Policy Agenda relies on five major pillars to restore free, fair, and reciprocal trade.
- The five pillars of President Trump’s Trade Policy Agenda continue to fulfill his promise to the American people to fight for free, fair, and reciprocal trade. They are:
- Supporting our national security by ensuring economic security.
- Strengthening the United States economy so it benefits all Americans.
- Negotiating trade deals that result in prosperity for more Americans.
- Enforcing and defending trade laws so bad actors no longer take advantage of the United States.
- Reforming the World Trade Organization (WTO) to promote rules for efficient markets, expanded trade, and greater wealth for all nations.
SUPPORTING OUR NATIONAL SECURITY: President Trump is promoting our economic security both at home and abroad.
- Consistent with his National Security Strategy, President Trump’s Trade Policy Agenda recognizes that economic prosperity at home is necessary for American power and influence abroad.
- Free, fair, and reciprocal trade relations are critical to our national security policy, and form the cornerstone of the President’s trade agenda.
- The United States remains committed to working with like-minded countries to defend our common prosperity and security against all forms of economic aggression.
STRENGTHENING THE U.S. ECONOMY: The Trump Administration’s Trade Policy Agenda focuses on strengthening the American economy for the benefit of all Americans.
- By signing the Tax Cuts and Jobs Act into law, President Trump strengthened our economy and increased the global competitiveness of American companies and workers alike.
- Prioritizing the slashing of red tape, President Trump has ordered Government agencies to eliminate two old rules for every new one issued.
- The recently published Economic Report of the President links the Obama Administration’s habitual overregulation to slow economic growth rates.
- Over the first eight months of the Administration, Federal agencies issued 67 deregulatory actions to 3 regulatory actions, far exceeding the President’s target.
NEGOTIATING TRADE DEALS THAT WORK FOR ALL AMERICANS: President Trump is renegotiating and revising our nation’s trade deals, for the benefit of our shared prosperity.
- President Trump will seek an extension of the Trade Promotion Authority (TPA) until 2021, to better negotiate fair and balanced trade agreements.
- In order to best advance our Nation’s priorities in ongoing trade negotiations, it is critical that the Senate immediately move to confirm President Trump’s nominees to serve as Deputy U.S. Trade Representatives.
- The Trump Administration intends to continue renegotiating the North American Free Trade Agreement (NAFTA) and improving the Korea-U.S. Free Trade Agreement (KORUS).
- The United States and the United Kingdom have established a Trade and Investment Working Group, laying the groundwork for future trade agreements following the United Kingdom’s departure from the European Union.
- The Administration remains open to potential future bilateral trade agreements, including in the Indo-Pacific and African Regions.
ENFORCING AND DEFENDING U.S. TRADE LAWS: Recognizing that bad actors have taken economic advantage of the United States for too long, President Trump is taking urgent action to safeguard American interests.
- In 2018, President Trump issued a series of trade actions under Section 201, to safeguard U.S. manufacturers of washing machines and solar energy products from a flood of overseas imports.
- This was the first use of Section 201 in 16 years.
- The President is ensuring that foreign companies like Samsung and LG are being held accountable to their commitments to build products in the United States.
- The Trump Administration self-initiated a Section 301 investigation and is undertaking a detailed probe into allegations of Chinese forced technology transfers, unfair licensing practices, and intellectual property theft.
- In addition to the Section 301 investigation, the Trump Administration conducted 82 major antidumping and countervailing duty investigations in 2017, representing a 58 percent increase over the final year of the Obama Administration.
- The Trump Administration has initiated several Section 232 investigations into potential national security risks associated with imports of steel and aluminum.
- As a result of these investigations, the Department of Commerce determined that the quantities of imported steel and aluminum represent potential threats to our national security.
- President Trump is considering several proposals – including quotas and tariffs – to adjust steel and aluminum import levels and keep our Nation secure.
- Under President Trump, the United States has successfully litigated several WTO disputes, protecting our Nation’s right to enact fair laws.
REFORMING THE WTO: The United States will advocate for sensible and fair reforms to the WTO, promoting rules for efficient markets, expanded trade, and greater wealth for all nations.
- President Trump remains committed to working with all WTO members who share in the United States’ goal of fair and reciprocal trade deals and relationships.
- The United States aims to hold countries that break the rules accountable for their actions, while respecting the sovereignty of all nations.