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Trump Not Budging on Tariffs

The Wall Street Journal reports CEOs Want Trump to Change Course on Tariffs. He Isn't Budging.

Donald Trump's tariff threats have triggered a behind-the-scenes lobbying campaign to soften or alter the president-elect's plans. But the effort faces a potentially insurmountable roadblock: Trump isn't budging.

So far, executives are facing setbacks as they canvass Trump's aides for advice on how to influence the president-elect's next steps. Trump is largely acting on his own, leaving his incoming team of advisers with few opportunities to shape his thinking. His recent late-night social-media statements about tariffs have come with little warning even to some of his closest allies, according to people familiar with the matter.

Trump's team has told corporate consultants there is no waving the president-elect off his plans to make liberal use of tariffs once he gets into office, the people said.

Late last month, Trump said in a Truth Social post that he would place a 25% tariff on imports from Canada and Mexico if the countries didn't do more to stem the flow of migrants and drugs across the border. He raised the prospect of imposing an additional 10% levy on goods coming from China because, he said, Beijing hadn't done enough to prevent fentanyl from coming into the U.S. Days later, Trump warned that he could place 100% tariffs on Brics countries, which include Brazil, Russia, India, China and South Africa, if they try to replace the U.S. dollar as the main global currency. That is on top of his pledge during the presidential campaign to impose across-the-board tariffs of as much as 20% on all U.S. imports.