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President Donald Trump signed two executive orders March 31 designed to curb "unfair and nonreciprocal trade," as White House National Trade Council Director Peter Navarro described it.
The first executive order commissions a report that will evaluate the magnitude of American deficits with other countries and explore the reasons for those deficits, in turn guiding policy on how to deal with trade dynamics on a country-by-country basis. Commerce Secretary Wilbur Ross said that the report would specifically look at whether or not U.S. trade deficits with certain countries are due to "cheating or other inappropriate behavior," among other things.
The report, due in 90 days to the president, will also check the effects of "asymmetrical rules"...