Trump Denies Scaled-Back Tariff Plan

President-elect Donald Trump has dismissed reports of a scaled-back version of his universal tariff plan, insisting on maintaining his original proposal for broad tariffs, including a 60% tariff on Chinese goods. Despite reports indicating a potential focus on critical imports, Trump labeled them as 'Fake News.' The U.S. dollar has experienced fluctuations due to the uncertainty surrounding Trump's tariff plans, with markets speculating whether his policies will align with his aggressive campaign promises. The dollar index fell to a one-week low as traders adjusted their expectations, fearing tariffs could increase inflation and impact Federal Reserve policy. Trump's insistence on tariffs aims to leverage negotiations and raise revenue, though concerns about potential inflation and a global trade war persist.