From CNBC: 2025-01-20 09:48:00

President-elect Donald Trump is set to issue a trade memorandum directing agencies to assess unfair practices with China, Canada, and Mexico. Despite previous plans for tariffs, Trump’s team is not expected to impose new duties immediately. Economists warn of potential price increases if tariffs are implemented.

Trump’s trade policy may be shifting from his campaign promises of universal tariffs. He previously proposed a 20% levy on all imports and a 60% rate for Chinese goods. The administration is now considering a gradual tariff increase of 2% to 5% monthly. Concerns about higher production costs and consumer prices persist among economists.

Read more: Trump trade memorandum won’t impose new tariffs on day one, says WSJ report