This memorandum outlines an "America First" trade policy, prioritizing American economic interests and national security. Key directives include investigating trade deficits and unfair practices by other countries, reviewing existing trade agreements, and enhancing national security by assessing and strengthening the industrial base and export controls. Specific actions are assigned to various cabinet secretaries and officials, encompassing reviews, investigations, and recommendations on tariffs, currency manipulation, and trade agreements. Reports are required by April 1st and April 30th, 2025, detailing findings and proposed measures. The policy aims to bolster domestic industries and workers while addressing perceived threats from foreign competitors.