The Washington Post, citing three sources familiar with the matter, reported early Monday that the Trump advisers were exploring tariff plans that would apply to all countries, but would only cover certain sectors considered critical to national or economic security, which would represent a marked change from the promises Trump made during the 2024 presidential campaign.
European stock markets and currencies had rallied strongly on Monday following the newspaper’s information.
Trump, a Republican who will take office on Jan. 20, had pledged to impose 10% tariffs on global imports to the United States, along with a 60% tariff on Chinese goods, rates that trade experts say , would disrupt trade flows, raise costs and provoke retaliation against US exports.
According to the newspaper, the plans are in the process of being drawn up and have not yet been finalized.
It was not clear which sectors the tariffs would target.
Preliminary discussions have largely focused on several key sectors that Trump’s team wants to bring back to the United States, sources told The Washington Post.
“Those include the defense industrial supply chain (through tariffs on steel, iron, aluminum and copper); critical medical supplies (syringes, needles, vials and pharmaceutical materials); and energy production (batteries, rare earth minerals and even solar panels),” two of the people said, according to the outlet.
