While I appreciate the sentiment behind this memorandum, I believe it is shortsighted and counterproductive for a number of reasons. Firstly, it ignores the role that foreign companies play in driving innovation and economic growth in the United States. By imposing arbitrary restrictions on trade with these countries, we risk jeopardizing important partnerships and alliances that have helped make the United States a leader in global commerce. Secondly, this memorandum sends an unmistakable message to foreign governments that the Trump administration is unwilling or unable to engage constructively on issues of trade and diplomacy. This could have negative consequences for our ability to influence international policy debates and negotiate favorable outcomes. Finally, this memorandum represents a dramatic departure from longstanding U.S. policy towards foreign governments and their taxation practices. By imposing unilateral sanctions on countries that engage in what we deem as “unfair” taxation practices, the United States risks alienating key trading partners and undermining its credibility on issues of international trade. In sum, I believe this memorandum is misguided and will ultimately prove to be counterproductive for the United States in both economic and diplomatic terms.
Read the full text of the order at the whitehouse.gov website.