The White House recently summarized the findings of its trade policy review, initiated by President Trump, which includes a proposed 10% tariff and evaluations of U.S. trade agreements. The review highlights concerns with China’s compliance with the 2020 trade agreement and suggests that all current trade deals, like the USMCA, need modernization. Recommendations include stricter export controls and potential investigations into sectors like pharmaceuticals and semiconductors. Additionally, Trump aims to eliminate the de minimis exemption for certain imports and is considering creating an External Revenue Service to enhance tariff collection.

Source: https://www.supplychaindive.com/news/trump-trade-review-ustr-tariffs-china-mexico-canada/744546/