Donald Trump will release a memo Monday that does not include the imposition of new tariffs, according to The Wall Street Journal.

In the memo, Trump directs federal agencies to study trade policies and evaluate the trade relationships of its major trading partners.

New tariffs

The presidential memo directs federal agencies to investigate and remedy persistent trade deficits and address unfair trade and monetary policies.

Some policies and statements from the first Trump administration that could continue into the second Trump administration have created uncertainty about the future of international trade agreements and the U.S. position on international trade. 

For example, the first Trump administration imposed tariffs on a variety of products from China, which led China to also impose tariffs on certain U.S. products in retaliation, including a 25% tariff on U.S. LNG imports. 

In addition, Trump has indicated that he intends to impose tariffs, including a 60% tariff on products imported from China and 10-20% on all other U.S. imports, which could result in retaliatory tariffs imposed on U.S. companies in China and any other countries affected by such tariffs.

Immigration

Trump also promised to impose 25% tariffs on Mexico and Canada on his first day in office, citing concerns about illegal immigration and the illicit drug trade.

The memo is one of the key actions Trump is anticipated to sign after taking office. Among the expected decisions are several important measures. One of them is the declaration of a national emergency at the U.S.-Mexico border. 

In addition, Trump is expected to rescind directives implemented by President Joe Biden’s administration. These directives are related to diversity, equity and inclusion. Also expected is the removal of limits set by Biden on offshore drilling and drilling on federal lands. These actions have been confirmed by close sources, according to reports from the same newspaper.