President Trump and his advisers are working on a new executive order on trade that could lead to new import duties on foreign-made goods like steel, aluminum, and appliances, a Trump administration official tells Reuters and Axios. The order, if signed, would launch an investigation into any "unfair" dumping of goods in the U.S. by foreign companies, and "the best path forward" might "include everything from no action at all to the levying of supplemental duties," the White House official said. Whatever action is taken, the official insisted, "will be informed by the results of the investigation and not by predetermined conclusions."
There is no timeline for the executive order, which is separate from a March 31 order launching a study on trade abuses and the U.S. trade deficit. Commerce Secretary Wilbur Ross is driving the initiative, already subject to disagreement among Trump advisers, Axios says. New import duties would make targeted consumer products more expensive for Americans and U.S. companies that use steel and aluminum, but it could also help some U.S. manufacturers, which is a goal of Trump's. The White House faction wedded to America First nationalism — Stephen Bannon, Stephen Miller, Peter Navarro, and others — is seen as pushing for the tariffs, while the ascendant Wall Street wing — Gary Cohn, Dina Powell, Jared Kushner — is expected to push back.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How to create a healthy 'germier' homeUnder The Radar Exposure to a broad range of microbes can enhance our immune system, especially during childhood
-
George Floyd: Did Black Lives Matter fail?Feature The momentum for change fades as the Black Lives Matter Plaza is scrubbed clean
-
National debt: Why Congress no longer caresFeature Rising interest rates, tariffs and Trump's 'big, beautiful' bill could sent the national debt soaring
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
