President-elect Donald Trump plans to aggressively reshape America’s trade policy in the first 200 days of his administration, according to a draft memo obtained by CNN.
Trump’s trade plan “breaks with the globalist wings of both the Republican and Democratic parties” and “will reverse decades of conciliatory trade policy,” the memo states.
Additionally, the Trump administration will look to negotiate “new trade agreements” that put the “interests of US workers and companies first.”
on Trump’s 200-day trade plan:
The 200-day plan is built around five main principles, plus an extra plank on manufacturing jobs. First is renegotiating or withdrawing from NAFTA, second is stopping the Trans-Pacific Partnership deal, third is stopping “unfair imports,” fourth is ending “unfair trade practices,” and fifth is pursuing bilateral trade deals. The final focus, to “retain and return manufacturing jobs,” focuses on lowering the business tax rate and eliminating regulations on businesses and restrictions on domestic energy.
The provisions on TPP are almost certainly moot, as congressional leaders on both sides of the aisle say the deal will not come up for ratification in the lame duck congressional session. Trump would then not need to take any action to kill it, because the deal would be effectively dead.
On Day 1, Trump would begin reforming NAFTA, including ordering the Commerce Department and International Trade Commission to begin a study on what the ramifications of withdrawing from the treaty would be, and what would be required legislatively to do so.
By day 100, the plan says Trump would target China and seek to label the nation a currency manipulator through bilateral trade negotiations.
Some critics have raised concerns that targeting China could spark a trade war.
By day 200, the Trump plan also calls for considering formal withdrawal from NAFTA, though the memo also notes the potential negative consequences of doing so.
As president, Trump will have “Trade Promotion Authority,” a power granted by Congress to move trade deals through Congress faster, until 2018. The power could be extended through 2021.