In the ocean of news/rumours getting circulated about the possible decisions by the new US administration, the White House issued a memo (America First Trade Policy) on January 20th directing several agencies to submit their reports on April 1st (and April 30th for foreign intervention in federal procurement) 2025. It’s likely that the administration would NOT make changes for those items before April. The relevant agencies would analyse the implications and submit their report (with recommendations) for the President to consider.
A few key topics include:
1) Export Controls measures
2) Trade Deficit with other countries (resulting in additional tariff)
3) Setting up of External Revenue Service for tariff and trade related revenues
4) Review of USMCA (which is already due for renewal/re-negotiation by 2026)
5) Anti-Dumping and Countervailing Duties
6) De-Minimus rule (US$800) violation and ways to mitigate it
7) China specific measures (Section 301 review, review of economic agreement with the PRC etc.)
8) EV sector review (expanding scope of products under ICTS)
9) Currency manipulation by other countries
For now, it appears to be business as usual. More details would be shared by the administration by March or April.
https://www.whitehouse.gov/presidential-actions/2025/01/america-first-trade-policy/