US President-elect Donald Trump rebutted studies that his aides are considering lowering tariffs on important imports in a strong response to a Washington Post article. Posting on Truth Social, Trump labeled the account” Fake News”, claiming the post, which cited unnamed sources, was “wrong” and false.
” The narrative in the Washington Post, quoting so-called private solutions, which don’t exist, wrong says that my tax plan will be pared back. That is bad. The Washington Post knows it’s bad. It’s just another instance of Fake News”, Trump wrote, refuting the statements made in the post.
The Washington Post statement, based on three sources familiar with domestic conversations, indicated that Trump’s group was exploring a altered tax strategy. The revised strategy would focus on a few areas that are deemed essential to US national security rather than imposing tariffs on all imports. The move marked a potential withdrawal from Trump’s previous campaign pledges, where he had vowed sweeping taxes, including a 10 % tax on global exports and a 60 % tax on Chinese goods.
Following the release of the story on Monday, a major rally in Western stocks and currencies resulted from speculation. But, Trump’s passionate neglect left some questioning the future of US trade coverage under his command.
According to the Post report, Trump’s team had been having tentative discussions focused on areas where the US could restore its independence. These included the defense industrial supply chain ( targeting metals such as steel, iron, aluminum, and copper ), critical medical supplies ( such as syringes, needles, and pharmaceutical materials ), and energy production ( including rare earth minerals and solar panels ), as per the report by Reuters.
The Trump administration was mainly focused on re-shoring crucial companies to lessen its dependence on foreign suppliers, particularly those from China, despite these still-developing ideas. This was confirmed by earlier Reuters reports that revealed that the Trump transition team had considered imposing tariffs on all battery materials for electric vehicles ( EV ), along with other crucial components for clean energy production.
Trade authorities warned that such tariffs could undermine global supply chains, boost costs, and rapid retaliatory measures. Section 232 taxes, which are intended to curb exports that threaten national security, have previously been used by the Trump administration to restrict certain foreign goods, especially those coming from China.
