Trump floats 5 percent tariff: report
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President-elect Donald TrumpDonald John TrumpDavid Axelrod after Ginsburg cancer treatment: Supreme Court vacancy could 'tear this country apart' EU says it will 'respond in kind' if US slaps tariffs on France Ginsburg again leaves Supreme Court with an uncertain future MORE’s inner circle is floating the possibility of imposing a tariff on imports through executive action after the inauguration, CNN reported.

Multiple sources told CNN that incoming White House chief of staff Reince Priebus has been telling business leaders that Trump is considering a 5 percent tax on imports.

The sources said the proposal was met with fierce opposition from those in Washington who heard it. 


The same sources were divided about whether they believed the Trump team was fully behind the proposal or if it was merely being felt out.

Such a move would typically be anathema to Republicans who favor a free market, though it remains unclear whether they would acquiesce to the administration.

Trump’s transition team did not respond to CNN when asked for comment.

During the campaign, Trump railed against free trade agreements that he believed brought in too many foreign goods and shipped out U.S. jobs. He vowed to impose a 35 percent tax on imported goods of companies that moved jobs overseas.