Trump's Trade Strategy: Day One Reprieve and Future Tariff Plans

On his first day in office, President Donald Trump did not impose immediate tariffs as pledged. Instead, he directed federal agencies to address trade deficits, unfair practices, and plan a new trade strategy with China. His approach sparks relief among global markets but indicates impending tariff measures.

President Donald Trump opted not to impose immediate tariffs as previously vowed but instructed federal agencies to investigate and address persistent U.S. trade deficits and unfair trade practices by other countries. This decision signals a more deliberative approach towards his trade policy.

In his inaugural address, Trump discussed plans to levy extensive foreign trade duties to bolster American industry, which he promised during his campaign. The temporary reprieve on tariffs was welcomed by international markets, reflecting positively on global stocks and foreign currencies.

While no specific tariffs were outlined, Trump's administration plans to re-evaluate existing trade agreements, including with China, and aims to prioritize American workers and industries. This suggests a strategy shift that could see tariffs implemented after careful analysis and coordination with Congress.

(With inputs from agencies.)