President-elect Donald Trump vehemently denied a Washington Post report claiming his administration was considering a scaled-back tariff plan targeting only critical imports. He dismissed the article on Truth Social as “Fake News,” asserting that the anonymous sources cited were nonexistent and that the Post knowingly misrepresented his policy.
The Washington Post article, citing three unnamed sources familiar with the matter, reported that Trump aides were exploring tariffs applied universally but limited to specific sectors deemed crucial to national security or economic well-being. This approach represents a significant departure from Trump’s 2024 campaign promises. The report triggered a noticeable surge in European stocks and currencies.
During his campaign, Trump pledged to impose a 10% tariff on all global imports into the U.S., along with a 60% tariff on Chinese goods—measures trade experts warned would severely disrupt global trade, increase consumer costs, and provoke retaliatory measures from other countries. The Post article, however, suggested that these sweeping tariffs were under review. While the aides acknowledged that plans remained fluid and unfinished, preliminary discussions reportedly centered on several key sectors prioritized for domestic resurgence.
These sectors, according to the Post, include the defense industrial supply chain (targeting steel, iron, aluminum, and copper); critical medical supplies (syringes, needles, vials, and pharmaceutical materials); and energy production (batteries, rare earth minerals, and solar panels). The specific sectors targeted by the potential tariffs remain unclear.
A previous Reuters report further highlighted the administration’s focus on bolstering domestic production. It revealed a Trump transition team document advocating global tariffs on all electric battery materials, with subsequent negotiations for exemptions with allied nations. The conflicting reports underscore the ongoing uncertainty surrounding the incoming administration’s actual trade policy.