President Trump did not immediately impose tariffs on his first day in office. However, he said a 25% duty on imports from Canada and Mexico is being considered on February 1 over illegal immigrants and fentanyl entering the U.S.

Federal agencies have been directed to investigate persistent U.S. trade deficits, unfair trade practices and currency manipulation by other countries. In a presidential memo, the Commerce and Treasury departments and the U.S. Trade Representative have been directed to investigate the national risks of large trade deficits.

No specific tariffs on China have been revealed and Trump said he would be having meetings with Chinese President Xi Jinping. Bloomberg’s Jenny Leonard reported the administration has been ordered to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during Trunmp’s first term.

Read more on potential tariffs here.