President Donald Trump is set to unveil his America First trade policy for a potential second term through an executive action. However, sources indicate that this action will serve as a temporary measure and will not immediately impose new global tariffs that were previously promised by Trump to generate significant revenue.
Trump's economic team has been actively strategizing on how to implement substantial tariffs on both allies and adversaries, a key pledge made by the president during his campaign. Various approaches have been discussed, including the possibility of introducing smaller tariffs that would gradually increase over time or imposing tariffs with a delayed implementation timeline to allow for negotiation with other parties.
Notable figures within the administration have differing views on the tariff strategy. Some, like Scott Bessent and Kevin Hassett, advocate for a more moderate approach, while others such as Peter Navarro and Howard Lutnick argue in favor of immediate and comprehensive tariff measures to convey a strong message.
President Trump has been actively engaging with congressional allies to garner support for the proposed tariffs. However, the specific details of the policy are still under consideration and have not been finalized.
