Introduces the “Fair and Reciprocal Plan,” which directs agencies to initiate all necessary actions to investigate any harmful non-reciprocal trade arrangement utilized by trading partners of the United States. Agencies will report to the President with proposed remedies for any trading partner employing a practice against U.S. products, businesses, workers, and consumers that the United States does not currently match. The Memorandum applies to all global trading partners; there is no geographic limit of scope.
Deadlines:
- After submitting the reports due April 1, 2025, under the America First Trade Policy Memorandum, the relevant agencies will initiate investigations of harms associated with non-reciprocal trade arrangements by trading partners and make reports to the President. No deadline is provided for these investigations or subsequent reports.
- The Office of Management and Budget is separately given 180 days (i.e., by August 12) to assess “all fiscal impacts on the Federal Government and the impacts of any information collection requests on the public” and deliver a report to the President.
- The Reciprocal Trade and Tariffs Memorandum does not include deadlines for the implementation of tariffs.
Additional Documentation
