Eric Trump joined the discussion around reciprocal tariffs on Thursday — suggesting that the first person to negotiate with his father would ‘win’. The assertion came even as stock markets roiled and world leaders fumed over the imposition of sweeping tariffs against nearly all imports from 185 nations. The levies announced by US President Donald Trump range from a baseline 10% to a whopping 49%.
“I wouldn’t want to be the last country that tries to negotiate a trade deal with Donald Trump . The first to negotiate will win – the last will absolutely lose. I have seen this movie my entire life…” Eric TrumpTrump said he would impose a 10% baseline tariff on all imports to the United States and higher targeted duties on some of the country’s biggest trading partners (Photo: AP) wrote on X.
Donald Trump has announced ‘discounted’ reciprocal tariffs on all imports to the United States — hailing the announcement as Liberation Day for Americans. The levies begin with a baseline 10% and higher targeted duties have also been imposed on some of the country’s biggest trading partners. Several countries — including Canada, China and the European Union — are expected to hit back at the US while others have indicated plans to seek deals.
The announcements follow a series of tariffs that the POTUS has already imposed on steel, aluminum, automobiles, and all Chinese imports. The auto tariffs are slated to come into effect from midnight on April 3 while additional levies on certain auto parts are expected to be implemented within a few weeks.
The changes are likely to make many products more expensive for American consumers in the coming days — from automobiles to fruits and vegetables. The tariffs can also escalate construction costs and slow down the development of new homes since Canada supplies about a third of the softwood lumber used for US homes.