President Trump released his memorandum on an America First Trade Policy that did not immediately result in “day one” additional tariffs on any country, but it is a top-to-bottom review of every possible action the U.S. could take against a country that is trading unfairly or burdening U.S. commerce based on existing laws.
A slew of reviews will be done by various agency heads – with the majority having to report back to the President with recommended actions by April 1.
Mexico and Canada “could” be subject to the threatened 25% tariffs as early as Feb. 1, according to comments the President made to reporters late Monday evening.
Some actions directed by the President could result in:
- New tariffs on countries with which we have a trade deficit
- Possible reciprocal tariffs
- New bilateral or sectoral agreements
- Revising section 321 de minimis
- Removing China’s PNTR
- Reviewing the section 232 tariffs on steel and aluminum and specifically on any exclusions/exemptions granted
- Beginning the public consultation now in preparation for the USMCA review in July 2026
- New/increased section 301 tariffs on China pursuant to a review of the Biden administration’s four year review report on China’s section 301 tariffs
- New export controls on strategic adversaries or geopolitical rivals
- Many, many more.
In addition, the President issued a pause on all agencies to make no new rules/regulations until a department or agency head appointed by him has reviewed and approved the rule.
Any new proposed rules that have already been published in the Federal Register but are not yet in effect should be postponed for 60 days to allow the incoming political appointees to review and approve.
Also the rule on section 321 de minimis entries will undergo a thorough review by the incoming administration before any further action is taken.
Source: NCBFAA/www.whitehouse.gov