On Friday, President Donald Trump issued two separate executive orders that aim to protect American firms from international taxes and boost foreign investments in American manufacturing.
NAVARRO: TRUMP GOING ‘ BACK TO THE FUTURE ‘ WITH SWEEPING TARIFF PLAN
The primary action, a national security political memorandum, will instantly stand up a “fast-track” process to approve foreign investments in local manufacturing,” with conditions that prevent investors from partnering with our international adversaries in matching areas”.
The White House claims that the process will include accelerating environmental reviews for foreign investments over$ 1 billion.
The Friday night motion caps off a storm second fortnight of Trump’s subsequent presidency where he signed more than 100 senior activities, memos, and proclamations. The unpleasant administrative plan had eliminated everything, including imposing new levies on foreign goods, a ban on transgender athletes in children’s activities, a rewriting of the Gulf of Mexico to the Gulf of America, and more.
The latest document directs the Committee on Foreign Investment in the United States to limit Chinese investments in security-related sectors, including “technology, critical infrastructure, care, agriculture, energy, natural materials”, and more. According to White House officials, the administration will also think about imposing new restrictions on Chinese investment in” sensitive technologies.”
Peter Navarro, Trump’s senior White House counselor for trade and manufacturing, told the Washington Examiner earlier this week that the president’s new tariffs, including 25 % levies on steel and aluminum imports and yet-to-be-announced reciprocal measures, will help drive new investments in American manufacturing.
” We had$ 15 billion in investment following the domestic producer tariffs of 2018 alone. You’ll see them, domestic and foreign producers, set up here on American soil and expand”, he predicted in an interview. The beauty of the no-exemptions policy is that it forces them to either visit or pay the tariffs. We like that too”.
TRUMP ANNOUNCES RECIPROCAL TARIFFS THAT WILL BE DETERMINED ON A’ COUNTRY-BY-COUNTRY’ BASIS
Trump will also sign a memorandum on Friday, instructing U.S. Trade Representative Jamieson Greer to create new tariffs or other barriers for nations that impose “digital service taxes, fines, practices, and other rules” on American businesses operating overseas.
” Overall, these non-reciprocal taxes cost America’s firms over$ 2 billion per year. Reciprocal tariffs will restore fairness and prosperity to the destabilized international trade system, stopping Americans from being exploited, according to the White House’s fact sheet.
