[Harvey Specter]

Lmao, he's already backing away from his "25% tariffs" on day one BS...

President Donald Trump is expected to outline the America First trade policy for his second term in an executive action.

But that move — described by sources as a “placeholder” — won’t institute new global tariffs that Trump has promised would raise trillions of dollars.

Trump’s economic team has been meeting regularly to chart a path to implement the steep, sweeping tariffs on allies and adversaries alike that the president promised on the campaign trail.

Among some alternative ideas proposed: Smaller tariffs that grow in amount over time, or tariffs that don’t take effect for several months, giving the administration time to get counterparties to the negotiating table.

Market-minded officials like Scott Bessent and Kevin Hassett have advocated for a softer approach, while tariff champions such as Peter Navarro and Howard Lutnick have argued the full bore is needed to send the message Trump wants.

Trump, for his part, has been calling allies on Capitol Hill to shore up support for tariffs. But the specific policy has yet to be decided.