WSJ “Trump Makes Decisions Alone”, “Despite companies lobbying to ease President-elect Donald Trump’s ‘tariff bomb,’ Trump’s resolve remains firm, as reported by the Wall Street Journal (WSJ) on the 15th (local time).”
“Business executives are hiring lobbying firms and trying to reach out to Trump’s aides out of concern over the tariffs, but they are facing difficulties in persuading the President-elect, who tends to act on his own.”
“A member of Trump’s transition team stated that Trump is unlikely to withdraw his tariff plans after taking office.”
“According to sources, the recent tariff proposals announced by Trump via social media late at night were not known even to his close aides until just before they went public.”
“On November 25, Trump announced via social media that he would impose tariffs of 25% on Canada and Mexico, citing issues like drugs and illegal immigration, and 10% on China. Later, on November 30, he threatened to impose 100% tariffs on BRICS countries like Brazil, Russia, India, China, and South Africa if they challenged the supremacy of the dollar. During the campaign, he also stated plans to impose a blanket 10% tariff on all imports and a 60% tariff on imports from China.”
“Trump discussed the tariff ideas with figures like Senator Marco Rubio, nominated as Secretary of State, and Scott Besant, chosen for Treasury Secretary. However, WSJ reported that they were not informed in advance about Trump’s plan to announce tariffs on social media. Sources indicated that Senator Rubio was notified about the BRICS tariff post but not about the tariffs on Mexico, Canada, and China.”
“Some companies and factions within the Republican Party hope that the strong tariff promises might not be fully implemented, speculating that Trump is using tariffs as a negotiation tactic.”
“Senator Tom Cotton, close to Trump, recently stated at a WSJ-hosted event that there might be room for tariff negotiations with Canada and Mexico. However, he expected a hardline stance on China due to its economic and security threats to the U.S.”
“WSJ noted that companies are hiring lobbying firms to convey their stance to Trump. Recently, LG Electronics U.S.A. hired Capital Counsel for lobbying on trade and supply chain issues. Semiconductor manufacturer GlobalFoundries hired the lobbying firm Cozen O’Connor, and the beverage company Constellation Brands, which has a brewery in Mexico, hired a Republican-related consulting firm after Trump’s announcement of tariffs on Mexico.”