Trump’s Trade Reset: No Immediate Tariffs, But Global Supply Chains Brace for Impact

Jan 20 (Reuters) – Donald Trump will issue a broad trade memo on Monday that stops short of imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China, Canada and Mexico, an incoming Trump administration official said, an unexpected development that triggered a dive in the dollar and a rally in global stocks.

President-elect Trump, who takes office at noon EST (1700 GMT), has promised to impose steep tariffs of 10% to 20% on global imports into the U.S., 60% on goods from China to help reduce the U.S. trade deficits that now top $1 trillion annually.

He said after his election in November that on his first day in office, he would sign the paperwork to impose…