The White House and Republican leaders on Capitol Hill on Tuesday will announce a plan to slash U.S. trade deficits with Mexico and Canada, a key step in what would be an unprecedented effort to boost the economy in the face of an unprecedented global trade war.
The White Houses announcement, which is expected in the coming weeks, will mark a shift from the Obama administration’s approach to trade.
The administration has consistently focused on the need to raise U.A.E. wages and promote domestic industries.
Under the new plan, Trump will use his power as president to approve a tariff on goods produced by U.
As and to impose an import tariff on any goods that have been manufactured in the United States and that pass through U. As ports.
It would mark a major shift in the administration’s strategy toward building a stronger economy.
But some experts worry that Trump will not be able to bring about such a dramatic change in trade policy without the support of congressional Democrats.
“I’m sure they are going to be happy with the tariff, but the way to get there is to get the congressional support,” said Andrew Harrer, a senior fellow at the Cato Institute.
“I don’t see any way that they can get a tariff through Congress without Democratic support.”
House Democrats, who have traditionally been a vocal opponent of trade agreements, have been a major supporter of the current administration.
House Speaker Paul Ryan has also been pushing to increase tariffs on Chinese goods, including steel, but his efforts have been blocked by Republican leaders.
If Trump does sign the bill, it would likely go into effect within days.
Trump has been pushing for the tariffs, which he has said would help the U. States with a trade deficit of more than $60 billion.
“Our trade deficit is a national crisis and it is going to get a lot worse,” Trump said last week.
“We are going into an economic collapse if we don’t fix this.”
Aides say Trump has spoken to Republican leaders in the House and Senate and has asked for a quick vote to pass the legislation.
A White House official said that the president is looking forward to signing the bill.
“The president is focused on bringing the economy back, creating jobs, and doing what he said he would do.
The president’s top priority is helping the American people and this bill is a key part of that effort,” the official said.
Trump’s proposal comes as the president’s administration is trying to make progress on his promise to renegotiate NAFTA.
The Trump administration and Congress have both been working on a deal to renegotiated the North American Free Trade Agreement.
The two sides have been working closely for weeks, with some trade experts saying that the U,S.
could begin a trade war with Canada and Mexico within months.
The United States has already accused Mexico of cheating on its tariffs and has vowed to retaliate.
The Mexico City Economic Forum held Monday in Mexico City, Mexico, where the two sides were due to sign an agreement on the NAFTA agreement, drew about 1,000 protesters.
The protests came after the Trump administration announced that it had reached an agreement with Canada on its dispute settlement system, a move that was expected to speed up the NAFTA talks.
The deal also includes a new trade pact between the United Kingdom and Mexico, but Trump has criticized the move, calling it a “disaster.”
NAFTA talks between the two nations began in 2016 but stalled because of the Trans-Pacific Partnership trade deal between the U., Canada and 11 other countries.
Trump criticized NAFTA as a “horrible” deal that would put the U!s economy at “great risk.”
A spokesperson for the president told The Associated Press on Tuesday that the new tariff proposal was a “priority.”
The U. S. trade deficit with Mexico grew to $58 billion last year, a jump of $6.7 billion from the year before.
It is the largest U. s trade deficit since 2009, according to the U of A. A Trump administration has been working to reduce that deficit.
On Wednesday, it is expected to announce a $3 billion reduction in the tariff on U. A.S.-produced goods, an effort to increase U. aa wages and improve the quality of U. goods.
A., which sells U. products in Mexico, has also agreed to a new tariff of $1.3 billion on U A.A.-produced exports.
The trade deficit has grown over the last few years as U.as exports have become more expensive and U.a. goods have become cheaper to produce in Mexico.
The Associated News contributed to this report.
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