There will be no delay, selective targeting, or slow roll-out of phased-in tariffs as speculated by Goldman Sachs and Deutsche Bank.

That said, there could be certain exemptions - such as for oil and gas, which Leavitt did not elaborate on. For now, all we have to go on is Trump's most recent comments on oil:

"It depends on what the price is. If the oil is properly priced, if they treat us properly — which they don't," he said Thursday while speaking with reporters.