WSJ "Trump Decides Alone"
Although companies are lobbying to ease the 'tariff bomb' measures imposed by President-elect Donald Trump, The Wall Street Journal (WSJ) reported on the 15th (local time) that Trump’s determination remains firm.
Corporate executives are hiring lobbying firms and trying to contact Trump’s aides out of concern over the tariffs, but they are struggling to find ways to persuade the president-elect. This is because Trump usually acts alone.
A member of Trump’s transition team stated that there is no chance Trump will withdraw the tariff plan after taking office.
According to sources, the recent tariff announcement made late at night via social media was not even disclosed to close aides until just before it was posted.
On the 25th of last month, Trump announced via social media that he would impose tariffs of 25% on Canada and Mexico and 10% on China, citing issues such as drugs and illegal immigration. Then, on the 30th of last month, he warned that if BRICS countries?Brazil, Russia, India, China, and South Africa?threaten the dollar’s dominance, a 100% tariff would be imposed. Earlier during the campaign, he had pledged a universal 10% tariff on all imports and a 60% tariff on Chinese imports.
Trump discussed his tariff plans with Senator Marco Rubio, nominated for Secretary of State, and Scott Bessent, selected for Treasury Secretary. However, WSJ reported that they were not informed in advance that Trump would reveal the tariff plans on social media. According to sources, Senator Rubio was notified before the BRICS tariff post but was not informed about the tariffs on Mexico, Canada, and China.
Some companies and factions within the Republican Party hope that the strong tariff promises will not actually be implemented. They analyze that Trump is using tariffs as a negotiation strategy.
Senator Tom Cotton, close to Trump, recently said at a WSJ-hosted event that tariff negotiations might be open with Canada and Mexico. However, he predicted a tough stance on China due to the economic and security threats China poses to the United States.
WSJ reported that companies are hiring lobbying firms to communicate their positions to Trump. Recently, LG Electronics’ U.S. branch hired Capital Counsel to lobby on trade and supply chain issues. Semiconductor manufacturer GlobalFoundries hired lobbying firm Cozen O'Connor, and Constellation Brands, a liquor company with a brewery in Mexico, hired a Republican-affiliated consulting firm after Trump announced plans to impose tariffs on Mexico.
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