Trump Plans to Launch Trade Policy Reforms, NAFTA Review on Day 1 of Presidency

MOSCOW (Sputnik) — US president-elect Donald Trump plans to start the process of changing US trade policy and reviewing the North American Free Trade Agreement (NAFTA) as early as on the first day of his presidency, January 20, media reported on Tuesday citing a memo drafted by Trump's transition team.

The US Commerce Department and International Trade Commission will be tasked with studying the consequences of the United States withdrawing from NAFTA, while Mexico and Canada will be notified of US plans to propose changes to the agreement, the CNN channel reported.

On the first day, Trump also has plans to submit legislation on reviewing US relations with countries considered to be manipulating their currencies as well as ordering the Committee on Foreign Investment to review the reciprocity of corporate takeovers by foreigners, according to the memo.

The plan also stipulates a 100-day mark for continuing NAFTA negotiations and pursuing to label China a currency manipulator. Once 200 days into Trump's presidency, the United States would edge closer to formally withdrawing from NAFTA in favor of bilateral agreements with both Canada and Mexico, the channel said.

On November 8, Trump won the US presidential election with 290 electoral votes, while his opponent Hillary Clinton received 228. During the election campaign, Trump said he would take the United States out of the Trans-Pacific Partnership (TPP) trade agreement, leave NAFTA and impose tariffs on imports from China. The protectionist moves are aimed at reinvigorating the US industrial sector and securing US jobs.