Trump orders more trade investigations, but no new tariffs

US President Donald Trump directed his administration to investigate the trade and economic policies of other countries seen as harming the US through tariffs, value added taxes and non-tariff barriers in a Feb. 13 memorandum.

The move came after intense speculation over potential "reciprocal tariffs" Trump vowed to impose. The latest memorandum did not detail new trade measures or specific targets. Rather, Trump ordered members of his administration to assess trade relationships for harm to US economic interests.

"It is the policy of the United States to reduce our large and persistent annual trade deficit in goods and to address other unfair and unbalanced aspects of our trade with foreign trading partners," the Trump administration said in the memorandum.

To that end Trump said he would unveil the "Fair and Reciprocal" plan, without giving a specific deadline.

"Under the plan, my administration will work strenuously to counter non-reciprocal trading arrangements with trading partners by determining the equivalent of a reciprocal tariff with respect to each foreign trading partner," Trump said in the memorandum.

The Feb. 13 directive builds on plans Trump made in a Jan. 20 America First Trade Policy memorandum requiring the secretaries of Commerce and Treasury, the United States Trade Representative and the Director of the Office of Management and Budget to deliver a series of reports in April looking at issues including tariffs.

In the new memorandum, Trump directed the Secretary of Commerce and the US Trade Representative, among others, to investigate and determine potential harms related to the trade and economic policies of other countries, including the impact of value added taxes, after they deliver those reports.

The Feb. 13 directive also said that within 180 days, the Director of the Office of Management and Budget will deliver a report assessing financial impacts to the federal government, among other things.

Trump reiterated in a Feb. 13 social media post that the US will impose reciprocal tariffs, "meaning, whatever countries charge the United States of America, we will charge them - No more, no less!"

Likewise, Trump said the administration will also consider value added tax systems as close equivalents to tariffs, saying the taxes are "far more punitive than a tariff."

Still, Trump did not provide fresh details on which countries he would target or when reciprocal tariffs might be imposed.

The Feb. 13 memorandum came after Trump levied a 10% tariff on China, outlined plans for a 25% steel and aluminum tariff set to go live Mar. 12 and delayed plans for 25% tariffs on Mexico and Canada.