STORY: Donald Trump has denied reports he could scale back plans for sweeping tariffs.
The Washington Post had cited three sources saying the levies could just apply to critical sectors, not all imports.
But on Monday, Trump took to his Truth Social platform to deny the claim.
He called it “just another example of fake news”.
During his election campaign, Trump had vowed to impose a 10% tariff on global imports - and 60% on goods from China.
He later promised to put a 25% levy on shipments from Canada and Mexico on day one of his new term.
Experts have warned such duties would upend trade flows, raise costs, and draw retaliation against U.S. exports.
The Washington Post report said plans were still in flux.
It said it wasn’t clear which sector tariffs would target, with defense industry parts and materials one possible focus.
Reuters has reported that the EV supply chain, including batteries, could be another key target.
U.S. and European stocks rallied sharply following the report of a rethink.
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And they stayed up even after Trump’s denial.
Now the conflicting claims will only deepen uncertainty among businesses over what exactly is coming.
One official at the U.S. Chamber of Commerce told Reuters he’d been hearing quiet denials of claims that the tariffs would feature lots of exemptions.
However, clarity may soon come, with Trump due to take office in less than two weeks.