Donald Trump will issue a broad trade memo on Monday that stops short of immediately imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China,

President Trump delays imposing China-specific tariffs, focusing instead on global trade practices and compliance with previous agreements.

Trump mentioned no specific tariff plans in his inaugural address, but repeated his intention to create the External Revenue Service, a new agency to collect "massive amounts" of tariffs, duties and other revenues from foreign sources.