TRADE DEALS: A
As President Trump first took office the total U.S. trade deficit was $502 billion. What will Trump do to attempt to cut the trade deficit?
1/23/17: President Trump signed an executive order withdrawing US from TPP trade deal. Like Hillary Clinton stated, President Trump also expressed he was not in favor of The Trans-Pacific Partnership. There are several reasons why they believe TPP is not a good trade deal for America. The United States lost 5 million manufacturing jobs between January 2000 and December 2014 and our current trade deficit is close to $500 billion annually (3% of our GDP) due to poor trade deals such as TPP.
3/31/17: Presideng Trump signs an executive order regarding the omnibus report on significant trade deficits. The order directs the Commerce Department and U.S. Trade Representative to compile a report on trade practices that contribute to the trade deficit. The report will look at each of America's trade partners and assess whether the country's trade practices unfairly discriminate against the U.S.
6/1/17: President Trump pulled the U.S. out of the Paris Climate Agreement citing he was elected to represent "the citizens of Pittsburgh, not Paris' and stating "This agreement is less about the climate and more about other countries gaining a financial advantage over the United States.". We believe this was the right decision based on the following facts.
1: Trump kept another campaign promise by abiding by his "America First" mantra
2: U.S. would begin negotiations to re-enter either the Paris accord or a new treaty on terms that are better for American businesses and taxpayers.
3: When President Obama joined the Paris Accord he never sent the agreement to the Senate for ratification. There was good reason for that: it wouldn’t have been ratified.
4: The agreement called for America to reduce emissions and pay $3 billion a year to countries like China and India who were not required to reduce their emissions until 2030.
4: The agreement, although would ultimately cost America trillions of dollars, would have essentially no impact – postponing warming by less than four years by 2100 and by a grand total of just three tenths of one degree (0.023 degrees Fahrenheit).
5: The Paris agreement would potentially stop the creation of new American jobs. The caps asked America to cut it's energy industry, which would result in a loss of energy jobs.
6: Minutes after Trump pulled out of the agreement, local mayors and businesses around the country stated they would continue to work to cut emissions. Which raised the question "Then why would the federal government need to be in the Paris Climate Agreement"
7: The trillions of dollars spent on an international agreement that would have near zero results would be much better spent on fighting diseases, American infrastructure and grants to local governments who push greener living.
7/10/17: President Donald Trump celebrated America's latest sugar deal, calling it "a very good one for both the U.S. and Mexico." The agreement reduces the amount of refined sugar Mexico can export to the U.S. and sets a new minimum price that Mexican sugar can be sold for. The American Sugar Alliance, a coalition of U.S. sugar producers. had previously accused Mexico of predatory trade practices and thanked Trump for "supporting sugar farmers and defending jobs."
7/12/14: After 14 years, U.S. beef hit the Chinese market. The new trade deal was dubbed an 'exciting opportunity' for agriculture. It has been the first shipments of U.S. beef to China since 2003 after officials sealed a long-sought trade deal this month.
8/23/17: Keeping true to one of his top campaign promises, Trump signed an executive order to explore trade investigation of China.
9/27/17: The U.S. government moved to impose tariffs high as 219% on Canadian-made jetliners when it ruled in favor of a complaint by U.S. aircraft maker Boeing that claimed rival Bombardier is receiving unfair government subsidies.
10/6/17: After months of President Trump scolding NATO allies for not spending enough on defense, NATO has reached an agreement to increase allied funding for counterterrorism programs. Under the deal NATO will spend an additional $12 million to $24 million on counterterrorism in 2018.
11/10/17: While on his Asian tour (longest Asian trip by a U.S. President since 1992) Trump said in his Vietnam speech the U.S. "will not tolerate" trade abuses and lashed out at "unfair practices." Trump said he did not blame countries for "taking advantage" of the U.S. in trade deals, for that is their job, but he said it will no longer happen. He said the U.S. "did not do their job, but I will."
1/22/18: Trump approved duties of as much as 30% on solar equipment made abroad. U.S. panel maker First Solar Inc. jumped 9% to $75.20 in after-hours trading. American based manufacturers stand to gain as costs for competing, foreign panels rise.
3/3/18: Trump announces the U.S. will institute steel and aluminum tariffs. The U.S. will set tariffs of 25% for steel and 10% for aluminum, the president said. It will apply the tariffs broadly, without targeting specific countries, and not impose quotas. "People have no idea how badly our country has been treated by other countries. By people representing us who didn't have a clue," Trump said, arguing that trade trends "destroyed" American steel and aluminum industries.
3/27/18: The United States and South Korea have reached an agreement to overhaul the six-year-old U.S.-Korea Free Trade Agreement. President Donald Trump had called the original Korea pact a job killer.