Report: Trump's Day 1 Orders Won't Include Tariffs

President Trump's Day 1 executive orders won't include the tariffs he had threatened to introduce on goods from countries including Canada and Mexico, officials say. Instead, the president plans to issue a memo directing federal agencies to evaluate America's trade relationships with Canada, Mexico, and China, officials tell Reuters. A senior trade policy adviser tells the Wall Street Journal that the president plans to change trade policies "in a measured way."

"I will immediately begin the overhaul of our trade system to protect American workers and families," Trump said in his inaugural address. "Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens," he added, though the AP notes that tariffs are paid by importers, not by other countries. Global stocks rose and the dollar dipped against other major currencies after officials said tariffs wouldn't be introduced immediately, reports Reuters.

Canadian officials say Trump has been reviewing three options: A 25% tariff on goods from Canada, a 10% tariff on goods from all countries, and a tariff that starts low but escalates over time, the CBC reports. "Perhaps he's made decisions to sort of suspend the threat of tariffs over a whole slate of countries. We will wait and see," Canadian Finance Minister Dominic LeBlanc said Monday, per the AP. "Mr. Trump has been in a previous mandate unpredictable so our job is to make sure we are ready for any scenario." (More tariffs stories.)