WASHINGTON (Reuters) – U.S. President Donald Trump has ordered federal agencies to “investigate and fix” ongoing U.S. trade deficits, and address unfair trade practices and currency manipulation in other countries. , according to a draft White House trade memo seen by Reuters that stopped short of immediately ordering new tariffs.

The memo, expected to be signed soon, also directs federal agencies to review China’s performance under the “Phase 1” trade deal it signed with Beijing in 2020 to end a nearly two-year tariff war. . The agreement requires China to increase its purchases of US exports by $200 billion over two years, but Beijing has failed to meet those targets as the COVID-19 pandemic hits.

“China’s compliance with this agreement will now be reviewed, to determine whether implementation or changes are necessary,” the memo read.