Source: Sharecast
The incoming president is expected to sign a memo to that effect upon entering the White House on Monday but, for now at least, the new administration will stop short of announcing new tariffs.
In the same memo, Trump will also put Canada and Mexico on notice before the review of the updated Nafta deal scheduled for 2026, the Wall Street Journal reported.
Among other things, Trump was said to be looking for pledges that its North American neighbours would limit China's involvement in their economies, especially as pertained to the automobile sector.
A "senior" Trump policy advisor said the memo looked to establish a trade agenda "in a measured way", providing a blueprint for more executive actions that the new president might take on trade.
The journal reviewed a summary of the memo as well as speaking with Trump's advisors about it.
US agencies would also be asked to focus on a few specific trade themes, including a reduction in persistent trade deficits and on currency manipulation by countries such as China or Vietnam.
Another task for the new administration will be a review of the Section 232 tariffs levied in 2018 on specific aluminium and steel imports.