Trump Defends Sweeping Tariff Plans Amid Reports of Potential Adjustments

President-elect Donald Trump denies claims that his team is scaling back universal tariff proposals, emphasizing his commitment to a broad trade overhaul.

President-elect Donald Trump reaffirmed his campaign promise to impose universal tariffs of 10-20% on all imports, dismissing reports of a narrower focus on critical sectors as 'Fake News.'
Reports suggest Trump aides are considering sector-specific tariffs targeting defense materials, medical supplies, and energy production to mitigate economic disruption and inflation risks.
Economists and industry groups warn that broad tariffs could raise consumer prices, reignite inflation, and provoke retaliatory measures from major trading partners like Canada, Mexico, and China.
Trump's proposed tariffs aim to incentivize domestic manufacturing and reduce reliance on foreign imports, though critics argue they could strain supply chains and hurt businesses reliant on global trade.
The international response is already taking shape, with Canada reportedly preparing a list of retaliatory tariffs while global markets react to the uncertainty surrounding Trump's trade policies.