Trump's Trade Plan: No Tariffs, Just Talks

Donald Trump's new trade memo on his first day as President won't impose new tariffs, but will evaluate trade relationships with China, Canada, and Mexico. This directive aims to investigate trade deficits and currency issues without enacting immediate tariffs, targeting China's and North America's policies.

On his first day as President, Donald Trump will release a trade memo that evaluates U.S. trade relationships with China, Canada, and Mexico. This move stops short of imposing new tariffs as previously suggested by Trump.

The memo will instruct federal agencies to investigate trade deficits and unfair trade and currency practices by these countries, confirming a report by the Wall Street Journal. Trump has proposed significant tariffs on imports, but immediate duties won't be enacted.

Instead, the focus will be on assessing compliance with existing agreements including China's 2020 trade deal and the USMCA. This initiative marks a cautious step towards addressing international trade imbalances.

(With inputs from agencies.)