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America First Trade Policy

1. Purpose

This document outlines the trade policy focused on strengthening the American economy and addressing trade deficits while promoting fair practices in international trade.

2. Key Actions And Directives
  • Investigate Trade Deficits:  The Secretary of Commerce, in consultation with the Secretary of the Treasury and the USTR, will investigate causes of large and persistent trade deficits.
  • Recommend Measures for Trade Deficits:  The Secretary of Commerce may recommend a global supplemental tariff or other actions to address identified trade deficits.
  • Establish External Revenue Service (ERS):  The proposed ERS will be responsible for the collection of tariffs and foreign trade-related revenues.
  • Review Unfair Trade Practices:  The USTR will conduct reviews of unfair trade practices by foreign countries and suggest remedies.
  • Commence USMCA Review Process:  The USTR is required to initiate public consultations regarding the USMCA in preparation for the July 2026 review.
  • Assess Trade Relations with China:  A review will be conducted to evaluate the People's Republic of China’s compliance with the Economic and Trade Agreement.
  • Deliver Unified Report by April 2025:  The Secretary of Commerce must coordinate a consolidated report including findings and recommendations from specified sections.
  • Review Steel and Aluminum Import Measures:  The Secretary of Commerce will assess the effectiveness of current import adjustment measures in addressing national security threats.
3. Important Points
  • America First Trade Policy:  The trade policy prioritizes American economic interests and aims to improve conditions for American workers and industries.
  • Investigation and Accountability:  Involves high-level officials in addressing trade imbalances and ensuring compliance with international trade agreements.
  • Strengthening Revenue Collection:  The establishment of an ERS indicates a focus on optimizing tariff collection and ensuring compliance with trade regulations.
  • Ongoing Evaluations:  Regular reviews and recommendations signal a proactive approach to adapt trade strategies based on changing global dynamics.
  • Legislative Clarity:  The authority of executive agencies remains intact, ensuring that these measures align with existing legislative frameworks.

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