Presidential Memorandum Memo
Close America First Trade Policy Signed Donald Trump · Jan 20, 2025
Trump directs Cabinet to review trade deficits, tariffs, China deals, and export controls by April 2025.
Orders reviews and reports but does not itself impose tariffs, change trade laws, or establish new agencies. Congress controls trade legislation and must fund any new structures.
What it does (18) Addressing Unfair and Unbalanced Trade Commerce Secretary investigates trade deficits and recommends remedies including possible global supplemental tariff Treasury Secretary investigates feasibility of creating External Revenue Service to collect tariffs and duties US Trade Representative reviews unfair trade practices and recommends actions under existing trade laws US Trade Representative starts public consultation on US-Mexico-Canada Agreement ahead of July 2026 review Treasury Secretary assesses currency manipulation by major trading partners and recommends countermeasures Economic and Trade Relations with the People's Republic of China (PRC) US Trade Representative reviews US-China trade agreement and recommends tariffs or other measures if China violates it US Trade Representative evaluates additional tariffs on Chinese goods based on 2024 technology-transfer review US Trade Representative investigates other Chinese trade practices and recommends responsive actions Commerce and Trade Representative assess legislative proposals on China's trade status with US Additional Economic Security Matters Commerce Secretary conducts full review of US industrial and manufacturing base for national security threats Agencies assess steel and aluminum tariffs and recommend whether to modify or expand them State and Commerce Secretaries review export controls on technology to strategic rivals and recommend changes Commerce Secretary reviews rules on connected vehicles and considers expanding restrictions to other products Treasury Secretary assesses investment restrictions on sensitive technologies and recommends modifications Reports Commerce Secretary coordinates unified report due April 1, 2025, on trade deficits, industrial security, steel/aluminum tariffs, and China Treasury Secretary coordinates unified report due April 1, 2025, on tariff collection agency, currency manipulation, and investment rules US Trade Representative coordinates unified report due April 1, 2025, on unfair trade practices and US-China compliance Office of Management and Budget submits report by April 30, 2025, on government agency procedures Read it on the Federal Register