President Donald Trump will be likely to formalize the details of his tariff proposal, including any carve outs or exemptions, on Thursday or Friday.
White House press secretary Sarah Huckabee Sanders said at a news briefing Wednesday which she expects Trump to sign off on the measures This particular week.
“We expect which the president will sign something by the end of the week, in addition to there are potential carve-outs for Mexico in addition to Canada based on national security, in addition to possibly different countries as well,” Sanders said.
At the same time, White House officials told CNBC, there could be a conversation This particular week around additional trade actions the White House will be considering.
Officials said there will be a basket of trade-related ideas under consideration, yet the item will be not clear what ideas will ultimately be embraced by the president.
When asked whether there will be carve-outs for Mexico, Canada or NATO allies, Sanders told the briefing, “the item’ll be country-by-country in addition to based on national security.”
Trump’s shock decision last week to impose 25 percent tariffs on steel imports in addition to 10 percent tariffs on aluminum demonstrated which he was putting into practice the protectionist policies he pushed during his election campaign. The announcement set off a wave of uncertainty in markets.
Investors found further reason for concern with Tuesday’s resignation of top White House economic advisor Gary Cohn, a Wall Street veteran who was opposed to the tariffs. Stocks declined Wednesday as traders absorbed the development.
Trump, in recent tweets, has hinted at different potential trade actions in addition to areas of interest. On Wednesday, he singled out China in addition to mentioned intellectual property theft in a pair of tweets.
TRUMP CHINA TWEET
TRUMP IP THEFT
On Saturday, Trump threatened to slap tariffs on European cars.
TRUMP CAR TWEET
The White House will be planning a late afternoon signing event, a source familiar with the matter told CNBC. Reuters, also citing a source, said the item could take place at 3:30 pm ET on Thursday.
With Cohn gone, Peter Navarro will be unleashed at White House
CNBC’s Kayla Tausche contributed to This particular report.