AsianFin -- U.S. President Donald Trump chose not to impose China-specific tariffs on his first day in office, instead directing his administration to evaluate unfair trade practices globally and investigate Beijing’s compliance with a trade deal signed during his first term.
The move is part of a strategy to "reverse the destructive impact of globalist, America-last trade policies," according to Bloomberg News. It also mandates federal agencies to address currency manipulation by other nations and emphasizes reducing reliance on foreign nations for critical supply chains while revitalizing the U.S. industrial base.
The decision to refrain from immediate action against Beijing signals a shift toward negotiation and reflects Trump's interest in potentially brokering a new agreement with Chinese President Xi Jinping, according to an individual familiar with the matter who spoke on condition of anonymity.