President-elect Donald Trump on Monday denounced a Washington Post report claiming he plans to roll back proposed tariffs as “another example of fake news.”
in Article was published on Monday morningThe newspaper, owned by Amazon billionaire Jeff Bezos, reported that the president-elect is considering rolling back “universal” tariff plans that only affect certain products. This is a major rollback to one of his most controversial policies.
“The Washington Post article, citing a so-called anonymous source that does not exist, falsely states that my tariff policy will be reduced. That is false,” President Trump wrote on his social media platform ” He said in a post on “Truth Social''.
“The Washington Post knows it's false. It's just an example of fake news.”
The Washington Post article cited three anonymous sources familiar with the campaign. A Washington Post spokesperson confirmed that the paper stands by its reporting.
The newspaper reported that early talks discussed limiting tariffs affecting key products whose supply chains the Trump campaign wants to bring back to the United States.
Under the new plan, tariffs would target the defense industry's supply chain, particularly steel, iron, aluminum and copper. Medical supplies such as syringes, needles, and vials. It also includes energy production such as batteries, rare earth minerals and solar panels, the report said.
While the reported tariff plans are still broad, they pale in comparison to the 10% to 20% across-the-board import tariffs that President Trump talked about during his campaign.
How the newly reported plan intersects with President Trump's previous plan to impose 25% tariffs on Mexico and China, and an additional 10% on China unless it cracks down on drug trafficking. It is unknown whether
The domestic tariff plan is being led by Trump campaign aide Vince Haley, who will serve as chairman of the White House Domestic Policy Council. Scott Bessent nominated by President Trump to the Treasury Department. That includes Howard Lutnick, President Trump's nominee for secretary of commerce, the Washington Post reported.
The president-elect faces a backlash over his proposed tariffs, and some economists believe protectionist policies could reheat inflation by raising input costs and ultimately lower prices for U.S. consumers and manufacturers. There are concerns that prices may rise.
But on Monday, economists American Economic Association Conference San Francisco officials, including former Fed Chairman Ben Bernanke, said Trump's policies may not be as inflation-inducing as early analyzes suggested.
“Trump policies, whatever their merits on fiscal grounds, will probably have a modest impact on inflation,” Bernanke said. “Unless very unusual circumstances arise, perhaps involving political risks, it does not seem likely that the path of inflation will fundamentally change.”
Other economists in attendance agreed, saying the president-elect's policies were unlikely to cause the dire havoc that analysts had predicted.
“President Trump has committed to tariff policies that protect American manufacturers and working men and women from the unfair practices of foreign companies and foreign markets,” Brian Hughes, a spokesman for President Trump's transition team, said in a statement.
“As he did in his first term, he will implement economic and trade policies that make life more affordable and more prosperous in our country.”
During his first term, President Trump imposed tariffs on more than $360 billion worth of products from China, particularly steel and aluminum, the Post reported.
Trump's transition team declined further comment.
