Below are the headlines for your weekly Policy Key Pulse.

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Click on each link below for more details about key points, implications, further actions, and FAQ.

America First Trade Policy

The US administration has issued a memorandum outlining the America First Trade Policy.

Key Points

• Investigation of Trade Deficits

• Establishment of External Revenue Service (ERS)

• Review of Unfair Trade Practices

• Assessment of USMCA

• Currency Practices Evaluation

Your Bottom Line

Businesses engaged in international trade may need to adapt to new tariffs or trade policies resulting from these investigations and reviews, including the establishment of the ERS.

Executive Order Proposed American Citizenship Changes

President Trump's executive order aims to redefine the parameters of birthright citizenship in the United States.

Key Points

• Redefinition of Birthright Citizenship

• Implementation Timeline

• Agency Directives

Your Bottom Line

The executive order is expected to face significant legal opposition, as it challenges the longstanding interpretation of the 14th Amendment's Citizenship Clause, which grants citizenship to all individuals born on US soil.

US President National Energy Emergency

President Donald Trump issued an executive order declaring a national energy emergency, aiming to enhance the United States' energy infrastructure and production capabilities, with a strong emphasis on fossil fuels.

Key Points:

• Declaration of National Emergency

• Expansion of Fossil Fuel Production

• Reduction of Regulatory Barriers

Your Bottom Line

The US government is likely to increase support for oil, natural gas, and coal production. This may also slow federal support and funding for renewable energy projects, and increase environmental risks.

US Withdrawal from OECD Global Tax Deal

The United States has officially withdrawn from the OECD Global Tax Deal, signaling a shift in international tax policy.

Key Points

• Withdrawal Notification

• Sovereignty Assertion

• Protective Measures

Your Bottom Line

Companies may experience increased tax uncertainty when operating across borders, including a more fragmented tax landscape. While these change are very likely to impact large multinational companies, they may also have unexpected effects on smaller companies.

Reorganization of the NSC

The policy outlines the structure and functions of the National Security Council (NSC) and its subcommittees.

Key Points:

• NSC Functions and Responsibilities

• Homeland Security Council (HSC)

• NSC Membership

Your Bottom Line

Businesses should anticipate more emphasis on national security policies that may affect various sectors, especially those related to defense, resources, and critical infrastructure.