Today the White House released an executive summary of the policy reviews President Trump ordered in his America First Trade Policy (AFTP) memorandum, issued on January 20. Although the full report to the President is nonpublic, according to the executive summary it contains twenty-four chapters, organized into three main pillars: (1) Addressing Unfair and Unbalanced Trade, (2) Economic and Trade Relations with the People’s Republic of China, and (3) Additional Economic Security measures, which includes reviews of export control programs, outbound investment, and other national security policies.
Several of these reviews directly affect the technology industry broadly. Although the executive summary contains little specific policy detail on these key issues, it does provide an overview of the Administration’s findings and next steps:
- China & Intellectual Property (Commerce). Section 3(e) of the AFTP memo required the Commerce Department to “assess the status” of U.S. IP rights held by “PRC persons” and “make recommendations to ensure reciprocal and balanced treatment of intellectual property rights with the PRC.
According to the executive summary, Chapter 16 of the AFTP report finds “The full extent of China’s abusive tactics and practices with respect to U.S. intellectual property is staggering” and goes on to “catalogue[] China’s abuses of this system and recommends appropriate responsive actions to address China’s massive imbalance on treatment of intellectual property.”
- Connected Vehicles (Commerce). Section 4(d) of the AFTP memo directed Commerce to “review and recommend appropriate action” respect to the Bureau of Industry and Security (BIS) rulemaking on connected vehicles (CVs), including whether to expand to additional products.
Chapter 20 of the AFTP report, entitled “Review of the Office of Information and Communication Technology and Services,” does not specifically mention CVs, but notes that the ICTS office at Commerce was “underutilized” during the first Trump Administration, and states that the Department has “identified key areas to strengthen and improve in line with ITCS’s original intent, including expanding its scope and remit to encompass advanced technologies controlled by our adversaries.”
- Outbound Investment (Treasury). Section 4(e) of the AFTP memo directed Treasury to review whether to modify, rescind, or replace Biden outbound executive order and regulations.
The AFTP report executive summary explains that the America First Investment Policy, issued on February 25, reflects the Administration’s approach to investment, including ensuring the National Security Council and the Treasury Department “will evaluate options that allow American business to thrive while ensuring that they, too, put America First and do not undermine U.S. national security interests.” The summary states that the Administration will evaluate whether outbound investment restrictions should be expanded to cover new technological developments and evolving strategies used by U.S. adversaries.
Relatedly, on March 31, President Trump announced the U.S. Investment Accelerator, a new office at the Commerce Department that will “facilitate and accelerate investments above $1 billion” in the United States by helping U.S. and foreign businesses navigate and streamline the regulatory process. The office will also manage the CHIPS Program going forward.
While not all of the recommendations made in the AFTP report are yet public, the executive summary suggests the Administration will take additional action in the near term to implement recommendations across all twenty-four policy areas, including the key tech issues described above.