Presidential Actions of Economic or Commercial Interest, Notes

America First Trade Policy

1. "America First" Trade Policy (Jan 20, 2025). Strategy to prioritize the US economy, workers, and national security through trade policies. It emphasizes reducing dependence on foreign nations, strengthening domestic industries, and addressing trade imbalances.

Key Sections:

• a. Economic and National Security Focus: Trade policy is linked to national security. The goal is to promote investment, productivity, and technological advantages while benefiting American businesses.
• b. Addressing Unfair Trade Practices: The Department of Commerce, Treasury, and Trade Representative will investigate trade deficits and unfair practices. Measures like tariffs, new enforcement mechanisms, and trade agreement revisions will be considered. A review of the USMCA and foreign exchange policies will be conducted. Actions against currency manipulation and illegal imports (e.g., counterfeit goods, fentanyl) will be proposed.
• c. US-China Trade Relations: A review of trade agreements with China to ensure compliance. Assessment of intellectual property rights and unfair practices. Potential tariffs or sanctions against China's trade policies.
• d. Economic Security and Industrial Base: Investigations into threats to U.S. manufacturing and security. Review of steel and aluminum imports affecting national security. Strengthening export controls to prevent technology transfers to adversaries. Evaluating foreign financial influence in US procurement programs.e. Reporting and Implementation: Agencies must deliver reports by April 2025 with findings and policy recommendations. The policy will be implemented within existing legal frameworks. The policy aims to protect American industries, reduce reliance on foreign economies, and reinforce national security through stricter trade regulations and enforcement mechanisms.

Unleashing American Energy

2. Unleashing American energy (Ex. Order, Jan 20, 2025): maximize the development of US energy resources and reduce regulatory burdens. It focuses on enhancing energy exploration, ensuring reliable energy supply, and boosting domestic production of non-fuel minerals. The order also emphasizes consumer choice, deregulation, and improving the permitting process for energy projects. It revokes several climate-related executive orders and programs, aiming to refocus US energy policy on economic growth and national security.

Offshore Wind Leasing Review

3. Temporary withdrawal of all areas on the outer continental shelf from offshore wind leasing and review of the federal government's leasing and permitting practices for wind projects (Jan 20, 2025): halts new offshore wind energy leases and wind energy permitting due to concerns over legal deficiencies and environmental impacts, including effects on wildlife and the economy. It mandates a comprehensive review of federal wind leasing practices, particularly for onshore and offshore projects, and includes an assessment of the economic and environmental costs of wind energy. It also suspends activities related to the Lava Ridge Wind Project. The Secretary of the Interior and other agencies are tasked with conducting these reviews.

OECD Global Tax Deal Approach

4. Organization for economic cooperation and development (OECD) global tax deal (Jan 20, 2025): approach to the Organization for Economic Cooperation and Development (OECD) Global Tax Deal, emphasizing the need for US interests to be protected in international tax negotiations. It outlines steps to ensure a fair and equitable tax system that fosters economic growth, maintains competitiveness, and ensures that US companies are not unduly harmed by foreign tax practices.

America's Golden Age Initiatives

5. Historic action to kick off America's golden age (Jan 24, 2025):

1. Economic and business growth: Trump claims to have secured over $1 trillion in investments, including $500 billion for AI infrastructure and $600 billion from Saudi Arabia. Companies like Stellantis are reopening US factories.
2. Deregulation and industry support: Trump has rolled back energy regulations, ended the EV mandate and prioritized domestic manufacturing, gaining praise from steel, petrol and trucking industries.
3. Border security and immigration enforcement: reports of reduced illegal crossings, mass deportations and shutdown of the CBP One app (allows undocumented people to enter the US).
4. Government reforms: executive orders ending DEI (Diversity, Equity and Inclusion) practices, reinstating merit-based hiring, and eliminating remote work in federal agencies.
5. Energetic independence: declaration of a national energy emergency, withdrawal from the Paris Climate Agreement, lifting of restrictions on oil and gas production.
6. Others: declassification of JFK files, pardon of Jan 6 defendants, reinstation of traditional gender definitions and end of government censorship.

Tariffs on Imports from Canada, Mexico and China

6. Fact sheet: president D.J. Trump imposes tariffs on imports from Canada, Mexico and China (Feb 1, 2025): imposition of additional tariffs on imports aiming to address national security concerns related to illegal immigration and trafficking.

Key points:

1. Tariff details: additional 25% on imports from Canada and Mexico. Additional 10% on imports from China. Energy resources from Canada subjected to a lower tariff (10%).
2. Rationale: the administration cites an extraordinary threat posed by illegal immigration and the influx of drugs as a national emergency.
3. National security concerns: the flow of contraband drugs has created a public health crisis. Chinese officials have failed to prevent the export of chemicals used by cartels. Mexican cartels are accused of collaborating with the Mexican government and operating fentanyl synthesis labs in Canada.
4. Economic leverage: the US deficit in goods exceeded $1 trillion in 2023. The administration views tariffs as a tool to protect national interests and enhance security.
5. Border security and immigration: Trump aims to address the surge in illegal immigration. Concerns include the impact on public services, wages, housing, healthcare and crime rates.

US Sovereign Wealth Fund Plan

7. Plan for establishing a US sovereign wealth fund (Ex. Order, Feb 3, 2025): establishment of a US sovereign wealth fund aimed at promoting fiscal sustainability, reducing tax burdens, ensuring economic security for future generations, and strengthening US leadership globally. The Secretary of the Treasury and Secretary of Commerce will collaborate on a plan, to be submitted within 90 days, detailing funding, investment strategies, governance, and legal considerations. The order specifies that it does not interfere with existing legal authorities and is subject to law and appropriations.

Adjusting Steel Imports

8. Adjusting imports of steel into the US (Feb 10, 2025): proclamation adjusting imports of steel into the United States.

Key points:

1. Reinstated tariffs: 25% tariff on steel imports from countries previously granted exemptions, like Mexico, Canada, the European Union, Japan, and the United Kingdom.
2. National security justification: the need to protect the US steel industry, ensuring adequate domestic production capacity for economic and security reasons.
3. Preventing trade circumvention: concerns about transshipment and other tactics to bypass existing tariffs.
4. Ongoing monitoring: monitoring steel imports and recommendations of further actions, if necessary.
5. Economic and industrial impact: maintaining a strong domestic steel industry is vital for infrastructure, defense and job creation.

Pausing Foreign Corrupt Practices Act Enforcement

9. Pausing foreign corrupt practices act enforcement to further American economic and national security (Ex. Order, Feb 10, 2025):

1. The FCPS has been applied in ways that harm US economics interests and national security and it limits American companies' ability to compete globally in sectors like critical minerals, ports and infrastructures. This policy wants to protect Trump's authority in foreign affairs and US economic competitiveness.
2. Enforcement: 180-day review of FCPA enforcement (no new investigations and reassessment of ongoing investigations).
3. Severability: if any provision is deemed invalid, the rest of the order remains in effect.
4. General provisions: the order doesn't affect the authority of executive departments, it's subject to applicable law and appropriations, and doesn't create enforceable rights against the US government or its entities.

Adjusting Aluminum Imports

10. Adjusting imports of aluminum into the US (Feb 11, 2025): address national security concerns raised by excessive imports of aluminum. The original tariffs of 10% have proven inadequate, as imports from various countries have continued to surge. The President has decided to revise the tariffs, limit exemptions, and address circumventions such as transshipment practices. These measures aim to restore US aluminum production capacity and prevent foreign producers from undermining US industry through unfair trade practices.

Restoration of Section 232 Tariffs

11. Fact sheet: president D.J. Trump restores section 232 tariffs: restoration of a 25% tariff on steel and aluminum to counter trade practices that undermine national security. While the EU isn't explicitly mentioned, such measures can impact trade relations with European countries.

One Voice for America's Foreign Relations

12. One voice for America's foreign relations (Ex. Order, Feb 12, 2025):

1. Policy: all individuals involved in US foreign policies must act under the president's direction. Failure would result in professional discipline, including removal. Personnel procedures should ensure effective implementation of US foreign policy.
2. Election of procedures: if any staff member's conduct or performance warrants action, the SS will take the steps.
3. Foreign service reform: reforms will focus on recruiting, performance evaluation and retention. The foreign affairs manual may be revised.
4. General provisions: the order doesn't limit the authority of other departments or agencies, it will be carried out in accordance with the law and subject to available funding, doesn't create enforceable rights.

Fair and Reciprocal Trade Plan

13. Fact sheet: president D.J. Trump announces, "Fair and reciprocal plan on trade" (Feb 13, 2025): disparities in trade practices. It mentions that while the EU can export shellfish to the U.S. without restrictions, it bans shellfish exports from 48 U.S. states, despite a 2020 commitment to expedite approvals. In 2023, the U.S. imported $274 million in shellfish from the EU but exported only $38 million. Additionally, the EU imposes a 10% tariff on imported cars, whereas the U.S. imposes only a 2.5% tariff.

Republican Governors' Association Meeting Remarks

14. Remarks by president D.J. Trump at republican governors' association meeting (Feb 20, 2025): the EU reduced their car tariffs to 2.5% to match those of the U.S., indicating ongoing negotiations and adjustments in trade policies.

Defending American Companies from Overseas Extortion

15. Defending American companies and innovators from overseas extortion and unfair fines and penalties (Feb 21, 2025): counter foreign digital service taxes (DSTs) and discriminatory regulations that harm American businesses. The