President Donald Trump issued a memorandum directing federal agencies to assess U.S. trade policy, potentially leading to new tariffs, with reports due by April 1. This marks a shift from his initial promise of immediate tariffs on Canada and Mexico upon taking office. The memorandum tasks key officials to investigate the U.S. trade deficit and unfair practices by other countries, including a review of the U.S.-China trade agreement. Trump emphasized his goal to overhaul the trade system, proposing to tax foreign countries and consider an external revenue service for tariffs and duties.

Source: https://www.supplychaindive.com/news/trump-tariffs-trade-policy-executive-order-inauguration/737783/