Donald Trump’s son Eric revealed how tariff-hit countries can “win” in the trade negotiations with his father.
The 41-year-old also shared a pitfall that would ensure negotiators “will absolutely lose.”
The Context
On Wednesday, Trump announced that the U.S. was imposing a 10 percent “baseline” tariff on virtually all imports. Several countries had much higher rates, including 34 percent in China and 46 percent in Vietnam, while a 20 percent rate was imposed on the European Union (EU).
China has already responded by announcing its own 34 percent levy on U.S. goods, while the EU is weighing its own response as the trade war ramps up.
The global markets suffered their worst weeks in years in the wake of the announcements.
Kevin Lamarque/AP
What To Know
With dozens of countries affected by the tariffs, Eric Trump warned that nations should be quick to try and broker a deal with the president.
“I wouldn’t want to be the last country that tries to negotiate a trade deal with @realDonaldTrump,” he wrote on X.
“The first to negotiate will win — the last will absolutely lose,” he continued. “I have seen this movie my entire life…”
Trump has suggested he’s open to negotiation on the tariffs, saying that the levies give the U.S. a “great power to negotiate.”
However, this contradicts comments from several senior White House aides, including trade advisor Peter Navarro and Vice President JD Vance, who have insisted that the new tariffs are a permanent change to global trade.
Some countries appear to have taken the early initiative, with representatives from Vietnam, India and Israel all getting in touch with Donald Trump to try and negotiate better tariff deals, CNN reported Friday.
Trump himself claimed that “every country has called us” in the wake of Wednesday’s announcement.
However, not every country appears to be open to negotiation.
China and Canada have taken a more hardline approach and have announced plans to retaliate with their own tariffs, and many more countries have suggested they may follow suit.
What People Are Saying
Donald Trump told reporters on Air Force One on Thursday, “Every country has called us. That’s the beauty of what we do, we put ourselves in the driver’s seat. As long as they are giving us something that’s good. For instance, with TikTok as an example, we have a situation with TikTok where China will probably say, ‘We’ll approve a deal, but will you do something on the tariffs?’ The tariffs give us great power to negotiate. They always have.”
Navarro said of the tariffs, on CNBC’s Closing Bell: Overtime, “This is not a negotiation. This is not that. This is a national emergency.”
What Happens Next
The 10 percent “baseline” tariffs will take effect on April 5, and the reciprocal tariffs will kick in on April 9.