Trump’s trade policy in Asia: A one-year review

President Trump promised a reset in U.S. trade policy, making the reduction of bilateral trade deficits a core priority. His opening act on trade—withdrawal from the Trans-Pacific Partnership (TPP)—sent shockwaves through the Asia-Pacific region. But other campaign pledges, such as a 45 percent blanket tariff on Chinese imports, have not materialized. Instead, the administration has revived little-used U.S. trade laws to tame Chinese unfair trading practices: a Section 232 investigation on steel and aluminum that could restrict imports with national security considerations and a Section 301 investigation on Chinese intellectual property theft. The Trump administration has been a proponent of the benefits of trade bilateralism. Major initiatives on this front include the launch of high-level economic dialogues with Japan and China, and steps to amend parts of the Free Trade Agreement (KORUS FTA). The U.S. government has also expressed a strong desire to launch new bilateral trade negotiations with c