His opponents have said his tariff plan will raise costs for consumers, while Trump hopes to fight the national debt without taxing the general population.

“The story in the Washington Post, quoting so-called anonymous sources, which don’t exist, incorrectly states that my tariff policy will be pared back,” Trump said in a Truth Social post. “That is wrong. The Washington Post knows it’s wrong. It’s just another example of Fake News.”

The story says aides are considering making his tariffs more limited, only covering critical imports.

Trump also threatened to levy 25% tariffs on Mexico and Canada due to the drugs and illegal immigrants that have traveled into the United States from those countries. Both countries have tried to persuade him that they’re fighting the border crisis in hopes that Trump won’t impose the tax.

Those increases are in addition to bolstering tariffs already on China by 10% if they don’t reduce migration and drug trafficking.

A source told the Washington Post that some of those measures are unlikely to be implemented, but instead, a universal tariff could be placed on key sectors.

“The sector-based universal tariff is a little bit easier for everybody to stomach out the gate. The thought is if you’re going to do universal tariffs, why not at least start with these targeted measures?” the source said. “And it would still give CEOs a massive incentive to start making their products here.”

Sources told the outlet that Trump’s mind is not set on a tariff policy.

“President Trump has promised tariff policies that protect the American manufacturers and working men and women from the unfair practices of foreign companies and foreign markets,” Brian Hughes, a spokesman for the Trump transition team, said in a statement. “As he did in his first term, he will implement economic and trade policies to make life affordable and more prosperous for our nation.”

If tariffs increased consumer costs, Trump would face rising unpopularity, which he’d likely seek to avoid. That could be why Trump is carefully measuring his tariff plan, even though such a plan would reduce the national debt.

“The Tariffs, and Tariffs alone, created this vast wealth for our Country,” Trump said Wednesday. “Tariffs will pay off our debt and, MAKE AMERICA WEALTHY AGAIN!”