President-Elect Pushes for Universal Tariffs, Advisers Debate Details
President-elect Donald Trump is still committed to imposing universal tariffs on imports from overseas, according to sources familiar with the matter. Despite initial discussions to make adjustments, Trump’s advisers are working to craft a strategy that translates his campaign pledges into policy.
Sources say that private discussions are focusing on drawing up plans for blanket tariffs on imports from all countries, with a 60% levy on goods from China, while acknowledging that adjustments may need to be made to accommodate political or economic realities.
In an effort to move forward, Trump’s advisers are exploring enacting tariffs on a subset of critical industries, either in advance of or alongside a broader tariff program, to highlight trade imbalances and spur US manufacturing activity. However, no final decisions have been made and the policy remains in flux.
Trump has taken issue with recent reports that suggest his plan for universal tariffs would be “pared back”, denying that this is the case and stating that the reports are “incorrect”. His top economic advisers are currently weighing how to move forward with a plan that would balance his campaign promise with concerns over the impact on the stock market and consumer prices.
The selection of critical industries to be targeted is ongoing, with different factions offering competing views. For example, some advisers see the tariffs as a necessary measure to protect American industry, while others argue that it would have devastating economic consequences. The decision-making process has become increasingly polarized, reminiscent of Trump’s first term, when there was intense debate between proponents and opponents of the tariffs.