According to a later report by (The Washington Post) on the 6th, just before Trump is set to be officially inaugurated on the 20th of this month, three sources revealed that the Trump team is discussing a tariff plan applicable to each country, which may only target imports of certain key goods, indicating that Trump’s future tariff policies may not be as tough as he promised.
President-elect Trump had made several promises to the American people even before winning the election last November, including implementing a comprehensive tariff policy that would impose a maximum tariff of 10% or 20% on all goods imported into the United States, to protect the American economy and the interests of the American people.
Trump rumored to only impose tariffs on key goods.
However, according to a later report by (The Washington Post) on the 6th, just before Trump is set to be officially inaugurated on the 20th of this month, three sources revealed that the Trump team is discussing a tariff plan applicable to each country, which may only target imports of certain key goods, indicating that Trump’s future tariff policies may not be as tough as he promised.
(The Washington Post) continues to point out that the tariffs currently being discussed by the Trump team are not aimed at all goods, but focus on those considered critical to the national economic security of the United States, such as the defense industrial supply chain, essential medical supplies, and energy production materials.
Trump responded: There will be no reduction in tariffs.
However, in response to the report from (The Washington Post), Trump himself later stated on his social platform Truth Social that the report is not true, and his tariff policy will not be reduced, leaving people confused.
(The Washington Post) reported citing false sources, erroneously claiming that I would reduce tariff policies. This is just a typical fake news.
In addition, Trump transition team spokesperson Brian Hughes also stated:
Trump has promised to implement tariff policies to protect American manufacturing and workers from unfair treatment by foreign companies. Just as he did during his first term, he will make our country more prosperous and better through economic and tariff policies.
The dollar fell in response.
We know that previously, due to the uncertainty brought by Trump's potential tariff policies and the Federal Reserve's (Fed) reduced expectations for interest rate cuts this year, the dollar has been rising continuously since October last year, peaking above 109.5 points on January 2.
After news emerged yesterday that Trump's tariff policy might become relatively lenient, the dollar index also fell in response, currently at 108.364 points.
Dollar index. Source: TradingView.
US stocks were buoyed, with chip stocks soaring.
The US stock market may be buoyed by this, along with a surge in chip stocks (NVIDIA closed up 3.43% at $149.43, setting a new high, and TSMC ADR also surged 5.46%, setting a new historical closing high), and after the market opened on Monday, the four major US stock indices performed as follows:
The Dow Jones Industrial Average fell by 25.57 points, or 0.06%, closing at 42,706.56 points.
The S&P 500 index rose by 32.91 points, or 0.55%, closing at 5,975.38 points.
The Nasdaq index rose by 243.30 points, or 1.24%, closing at 19,864.98 points.
The Philadelphia Semiconductor Index rose by 146.50 points, or 2.84%, closing at 5,310.14 points.
Bitcoin breaks through $102,000.
In the cryptocurrency space, Bitcoin surged alongside the opening of the US stock market, quickly breaking the $100,000 mark after 22:30 last night, reaching a high of $102,750 earlier. At the time of writing, it has retreated to $101,891, with a nearly 24-hour increase of 3.88%.
