Draft Trump trade memo targets US trade deficit, China purchases of US exports

Inauguration ceremony for Trump's second presidential term
Newly sworn-in President Donald Trump speaks with House Speaker Mike Johnson (R-La.) following a signing ceremony in the President’s Room following the 60th inaugural ceremony on January 20, 2025, at the US Capitol in Washington, DC. Trump became the 47th president of the United States in a rare indoor inauguration ceremony. Melina Mara/Pool via REUTERS
Source: Pool

U.S. President Donald Trump is ordering federal agencies to "investigate and remedy" persistent U.S. trade deficits, and address other countries' unfair trade practices and currency manipulation, according to a draft White House trade memo seen by Reuters that stops short of ordering immediate new tariffs.

The memo, expected to be signed shortly, also directs federal agencies to assess China's performance under the "Phase 1" trade deal he signed with Beijing in 2020 to end a nearly two-year tariff war. The deal required China to increase purchases of U.S. exports by $200 billion over two years, but Beijing failed to meet the targets as the COVID-19 pandemic hit.

"China's adherence to this agreement will now be assessed, to determine whether enforcement or changes are required," the memo reads.

This article was produced by Reuters news agency. It has not been edited by Global South World.

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