Trade Policy

U.S. trade policy under the 2026 agenda prioritizes America First principles, focusing on reducing trade deficits, securing supply chains, and negotiating reciprocal deals.

Tariffs and Trade Tools

Tariffs are taxes on imports used to protect industries and enforce reciprocity. The president wields broad authorities, including emergency powers under review by courts, impacting prices at retailers and rippling through the economy. Businesses navigate questions on whether tariffs are taxable and refunds for illegal tariffs.

Trade Deals and Agreements

The U.S. pursues the Agreement on Reciprocal Trade (ART) with partners like the EU, Japan, and South Korea to cut foreign barriers. Key deals include USMCA, under review to maintain zero tariffs and strengthen rules of origin. Concepts like Most Favored Nation status clarify why deals don’t extend universally.

Supply Chains and Strategic Industries

Priorities target critical minerals, semiconductors, and manufacturing reshoring to counter China’s dominance. Export controls and investments secure these sectors, while strategies break foreign supply chain control. Trade policy balances deficits, enforcement, and geopolitical goals.