The administration also wants to bake in the potential to renegotiate trade deals more frequently so the United States can ensure trade terms remain in its favor. The U.S.M.C.A. has a fixed term of 16 years, which means that the United States could ask for another round of trade concessions at its expiration. That emphasis on renegotiation partly comes out of the American experience with China, which entered the World Trade Organization on terms tailored for developing countries. It has since turned into the world’s largest manufacturer but still keeps the provisions that allow it to maintain high barriers to imports.

The U.S.M.C.A. also excludes state-owned enterprises, of which China has many, from benefiting from lower tariffs. And it contains a prohibition on currency manipulation, which the administration wants to push for in other trade deals.

Mr. Trump has repeatedly accused several trading partners, including Europe and China, of artificially weakening their currency to make exports cheaper.

On Wednesday, the Treasury Department said China, Germany, India, Japan, Korea and Switzerland would remain on its “monitoring list” for potential currency manipulation but declined to officially label any nation a currency manipulator.

While Treasury determined that China’s direct intervention to reduce the value of its currency has been “limited,” it said Beijing’s practices deserve ongoing scrutiny.

“Of particular concern are China’s lack of currency transparency and recent weakness in the currency,” Steven Mnuchin, the Treasury secretary, said in a statement. “These pose major challenges to achieving fairer and more balanced trade, and we will continue to monitor and review China’s currency practices, including ongoing discussions with the People’s Bank of China.”