WASHINGTON (Reuters) – U.S. President Donald Trump has ordered federal agencies to “investigate and address” the persistent U.S. trade deficit and address other countries' unfair trade practices and currency manipulation, according to a draft White House trade memorandum seen by Reuters. To request new tariffs instantly.
The memorandum, expected to be signed soon, also directs federal agencies to evaluate China's performance under the “Phase One” trade deal it signed with Beijing in 2020 to end the nearly two-year tariff war. The agreement requires China to increase its purchases of US exports by $200 billion over two years, but Beijing failed to achieve the goals with the spread of the Covid-19 pandemic.
“China’s compliance with this agreement will now be evaluated to determine whether implementation or changes are needed,” the memo said.
