Investing.com-- U.S. President Donald Trump is planning a narrower, more targeted agenda for increased trade tariffs set to take effect on April 2, reports from Bloomberg and the Wall Street Journal said on Sunday. 

Trump is now expected to not impose industry-specific tariffs next week, and will instead apply reciprocal duties only on a targeted set of countries that account for a bulk of the U.S.’ foreign trade, the reports said. 

Trump has repeatedly touted April 2 as his “liberation day” for the U.S., when he has threatened to impose tariffs against major U.S. trading partners  in line with their duties on U.S. exports. He had earlier warned that key industries such as automobiles, pharmaceuticals, semiconductors and commodities will be targeted with more duties.

But this will no longer be the case, reports over the weekend showed, citing administration officials with knowledge of the matter. 

The reports said it was now unclear whether Trump’s sectoral tariffs, along with higher duties on Canada and Mexico, will come to pass. Trump had earlier in March flip-flopped on tariffs against the two countries.

Trump’s reciprocal tariffs are also expected to be more targeted than initially thought, the reports showed. The WSJ reported that the White House is looking at applying tariffs on about 15% of nations with persistent trade balances with the U.S.- a so-called “dirty 15,” according to Treasury Secretary Scott Bessent. 

Targeted nations are expected to include the G-20 nations, along with India, Japan, China, and Vietnam- all of which have large trade imbalances with the U.S.

While Trump’s tariffs will still ramp up the cost of importing in the U.S., their limitation to the so-called “dirty 15” is expected to dampen their overall economic disruption. 

Each targeted nation will be imposed with tariffs based on their trading relationship with the U.S.

Concerns over disruptions stemming from Trump’s tariffs had ramped up in recent weeks, fueling fears of rising inflation and slowing economic growth. The U.S. President had earlier in March slapped China with a 20% trade tariff, drawing retaliation from Beijing.

Canada, Mexico, and the European Union also warned of retaliatory action against Trump’s tariffs.