On March 31, US President Donald Trump signed two executive orders, promising to root out unfair trade practices around the world and take on the countries he says have created the US’ large trade deficit.
Trump has instructed officials to identify the “cheats” they believe are the cause of the US trade deficit, investigate the dumping of goods onto the US market and the use of subsidies by foreign governments and explore options for levying trade tariffs.
The Ministry of Economic Affairs’ Bureau of Foreign Trade has asked Taiwan’s overseas missions to continue closely monitoring future policy initiatives and proposals coming out of Washington. Additionally, the bureau has called upon businesses not to evade anti-dumping duties or engage in other forms of customs fraud through practices such as illegal shipping or falsely declaring the country of origin of goods. The bureau warns that offending businesses may be subject to executive disciplinary action by the US government and could face penalties or punishment.
US Secretary for Homeland Security John Kelly expects to have a strategy in place within 90 days. Subject to future confirmation of the policy, in addition to measures such as requiring importers to put down cash deposits, recovery of anti-dumping duties and countervailing (anti-subsidy) duties, Kelly says his department has not ruled out opening investigations on export businesses suspected of having conspired in customs fraud.
Source article: http://www.taipeitimes.com/News/lang/archives/2017/04/11/2003668458
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