TRADE & ECONOMY
• America First Trade Policy o
Overview : President Trump ’ s " America First Trade Policy " executive order calls for investigations into persistent trade deficits , unfair trade practices , and the feasibility of establishing an External Revenue Service for tariff collection , laying the groundwork for potential actions under existing U . S . trade laws . Although Trump hinted at specific tariff measures during the signing , the order itself refrains from imposing universal or targeted tariffs , focusing instead on assessments and consultations to shape future trade policies . o Details :
• Addressing Unfair and Unbalanced Trade :
• Investigate causes of persistent trade deficits and recommend measures , including global supplemental tariffs .
• Assess the feasibility of creating an External Revenue Service ( ERS ) for tariff collection .
• Review unfair trade practices and recommend remedies under existing authorities .
• Begin public consultations for the 2026 USMCA review and assess its impact on American stakeholders .
• Examine currency manipulation by trade partners and recommend countermeasures .
• Review existing trade agreements and recommend necessary revisions .
• Identify opportunities for new bilateral or sector-specific trade agreements .
• Assess and update antidumping and countervailing duty ( AD / CVD ) laws and enforcement practices .
• Evaluate the impact of the $ 800 de minimis exemption on tariff revenues and contraband risks .
• Investigate discriminatory or extraterritorial taxation of U . S . entities by foreign governments .
• Economic and Trade Relations with China :
• Review compliance with the U . S . -China Economic and Trade Agreement and recommend actions , including tariffs .
• Assess the impacts of China ' s trade practices , including industrial supply chain circumvention .
• Investigate discriminatory or unreasonable Chinese trade practices and recommend responsive measures .
• Evaluate U . S . intellectual property rights and ensure balanced treatment with China .
• Additional Economic Security Matters :
• Conduct a review of the U . S . industrial and manufacturing base for national security risks .
• Assess the effectiveness of steel and aluminum tariffs and exclusions on national security .
• Review export control policies to address loopholes and maintain the U . S . technological edge .
• Assess the regulation of connected vehicles and expand controls on related technologies . bracewell . com 17