Donald Trump will issue a broad trade memo on Monday that stops short of imposing new tariffs on his first day in office, but rather directs federal agencies to evaluate U.S. trade relationships with China, Canada and Mexico, the Wall Street Journal reported on Monday.
President-elect Trump, who takes office on Monday, has pledged tariffs of 10% on global imports, 60% on Chinese goods and a 25% import surcharge on Canadian and Mexican products, duties that may upend trade flows, raise costs and draw retaliation.
Citing a summary of a memo that the Journal said Trump plans to issue, the newspaper said Trump will direct agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations.
The memo singles out China, Canada and Mexico for scrutiny, the newspaper reported. It directs agencies to assess Beijing's compliance with its 2020 trade deal with the U.S., as well as the status of the U.S.-Mexico-Canada Agreement, or USMCA, the newspaper reported.
But the memo does not impose any new tariffs, the newspaper added.
There was no immediate comment from Trump aides on the Journal's reporting.