President Trump’s second-term trade strategy has centered on reciprocal tariffs introduced in April 2025, prompting numerous bilateral framework agreements and Agreements on Reciprocal Trade that lower barriers for U.S. exports while maintaining modified U.S. duties. By early 2026, finalized or advanced arrangements included the United Kingdom, Indonesia, Japan, South Korea, India, Taiwan, Argentina, and several Southeast Asian nations, alongside ongoing upgrades from framework status for the European Union, Ecuador, and others. The March 2026 U.S. Trade Representative agenda emphasizes continued enforcement of these pacts, supply-chain security for critical minerals, and the scheduled USMCA review later in the year, which could shape new or revised terms with Canada and Mexico. Negotiations with China remain focused on compliance with the October 2025 Busan understandings, while additional talks with partners like Vietnam and Thailand continue toward full implementation before 2027.