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“… The presidential memo directs federal agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations, two longstanding Trump irritants. And it singles out China, Canada and Mexico for scrutiny, directing agencies to assess Beijing’s compliance with its 2020 trade deal with the U.S., as well as the status of the U.S.-Mexico-Canada Agreement, or USMCA, Trump’s updated North American Free Trade Agreement, which is set for review in 2026.
But the memo doesn’t, in itself, impose any new tariffs—a momentary relief for foreign capitals bracing for Trump to immediately impose stiff levies. Instead, the trade policy memo is an indication of debates still roiling the incoming administrationover how to deliver on Trump’s campaign trail promises for across-the-board tariffs on imports, and higher duties for adversaries such as China.
The Wall Street Journal reviewed a summary of the memo and spoke to Trump’s advisers about it.
A senior Trump policy adviser described the memo as an effort to lay out a vision for Trump’s trade agenda “in a measured way,” suggesting that the incoming president is, at least for now, taking a more deliberative approach to the issue that animated his political campaign. The memo provides a blueprint for further executive action that Trump may take on trade, the adviser said. …”
But the memo doesn’t, in itself, impose any new tariffs—a momentary relief for foreign capitals bracing for Trump to immediately impose stiff levies. Instead, the trade policy memo is an indication of debates still roiling the incoming administrationover how to deliver on Trump’s campaign trail promises for across-the-board tariffs on imports, and higher duties for adversaries such as China.
The Wall Street Journal reviewed a summary of the memo and spoke to Trump’s advisers about it.
A senior Trump policy adviser described the memo as an effort to lay out a vision for Trump’s trade agenda “in a measured way,” suggesting that the incoming president is, at least for now, taking a more deliberative approach to the issue that animated his political campaign. The memo provides a blueprint for further executive action that Trump may take on trade, the adviser said. …”