WASHINGTON (Reuters) – U.S. President Donald Trump is ordering federal companies to “investigate and remedy” persistent U.S. commerce deficits, and handle different international locations’ unfair commerce practices and foreign money manipulation, based on a draft White Home commerce memo seen by Reuters that stops wanting ordering quick new tariffs.
The memo, anticipated to be signed shortly, additionally directs federal companies to evaluate China’s efficiency beneath the “Phase 1” commerce deal he signed with Beijing in 2020 to finish a virtually two-year tariff warfare. The deal required China to extend purchases of U.S. exports by $200 billion over two years, however Beijing failed to satisfy the targets because 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.
