Official announcements from the U.S. government or statements by the Trump administration

Trump's Economic Team Studies Gradual Tariff Hikes of 2%-5% Monthly, Not Yet Approved

Jan 13, 2025, 10:00 PM

Members of Donald Trump's incoming economic team are discussing a proposal to gradually increase tariffs month by month, with hikes ranging from 2% to 5%. This approach is intended to enhance negotiating leverage while mitigating the risk of a sudden spike in inflation. The proposal, which has not yet been reviewed or approved by Trump, is being considered by key figures such as Bessent, Hassett, and Miran. The gradual tariff hikes are under consideration as part of the broader economic strategy, potentially to be implemented using emergency powers.