Trump's America First Trade Policy

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Since President Trump's inauguration on January 20, 2025, his trade policy has been centered around an "America First Trade Policy." The following are the main points:

1. No Immediate Tariffs: Despite previous announcements, no new tariffs were imposed on day one.

   
   

2. Trade Reviews: Federal agencies have been instructed to conduct various trade reviews targeting China, other trade deals, and more. The results are due by April 1, 2025.

   
   

3. Potential Tariffs on Canada and Mexico: President Trump mentioned the possibility of imposing 25% tariffs on imports from Canada and Mexico on February 1 to address illegal immigrant flows and the fentanyl trade.

   
   

4. National Emergency Declaration: An executive order was signed declaring a national emergency at the US's southern border, which could pave the way for new tariffs on the US's continental neighbours.

   
   

5. Further Trade Issues: There could be additional trade issues, including reasserting US control over the Panama Canal and potential tariffs on Denmark over Greenland.

   
   

6. Negotiation Leverage: Tariffs are likely to be used as negotiating leverage to extract concessions from trade partners over the next four years.