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.
-
Today's political cartoons - November 24, 2024Cartoons Sunday's cartoons - taped bananas, flying monkeys, and more
-
The Spanish cop, 20 million euros and 13 tonnes of cocaineIn the Spotlight Óscar Sánchez Gil, Chief Inspector of Spain's Economic and Tax Crimes Unit, has been arrested for drug trafficking
-
5 hilarious cartoons about the rise and fall of Matt GaetzCartoons Artists take on age brackets, backbiting, and more
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
