President Trump Reaffirms Commitment to Tariffs as China Promises Retaliation
As during his first term, President Trump is actively posting on social media, leaving observers scrambling to decipher exactly what position on tariffs they will encounter once he returns to office. President Trump this week on social media bashed a report in the Washington Post that his aides are exploring tariff policies that would apply to all countries, but might not cover all products. It is unclear how this most recent post will match with prior statements from the president elect that tariffs will be based on reciprocity. China is preparing to retaliate against any tariff actions, launching an investigation that could lead to tariffs on U.S. beef.
In a January 6 post to Truth Social, President Trump took issue with a story in the Washington Post that tariffs would be applied to “critical” imports related to national defense, energy and other key stories. “The story in the Washington Post, quoting so-called anonymous sources, which don’t exist, incorrectly states that my tariff policy will be pared back,” Trump wrote. “That is wrong. The Washington Post knows it’s wrong. It’s just another example of Fake News.”
The president-elect’s most recent comments had described a more transactional approach. On December 16, the president-elect appeared with his Commerce Secretary nominee Howard Lutnick, who will lead trade policy implementation. “We’re going to make great deals, and we have all the cards,” President-elect Trump said.
“We’re going to be treating countries very fairly. If India imposes a 100 percent tariff on U.S. bicycles, then the United States will impose the same duty on their bikes.” Trump said. If “they tax us, we tax them,” Trump said. Commerce Secretary-nominee Lutnick reiterated at the event that “reciprocity” would be a key part of the strategy.
Separately, China announced on January 6th it was preparing tariffs against beef imports, a key U.S. export to China. President Trump reached an agreement with China that reopened their beef market in 2016, resulting in exports growing from zero in 2016 to nearly $1.5 billion in 2023 according to press reports. Observers fear this is the first step in a broader retaliation campaign by China on U.S. exports.
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