President Donald Trump's global tariff announcement Wednesday has some economists wondering if the latest round of import taxes is once again a negotiating tactic.

The U.S. is levying various tariffs on a number of trading partners in an effort to close trade deficits and bring manufacturing back to the country, Trump said in an 澳洲幸运5官方开奖结果体彩网:event in the White House Ro꧑💝se Garden. The tariffs range fro🏅m a baseline to 10% to varied "reciprocal" tariffs of 50%𒐪.

However, in an interview after the announcement, Treasury Secretary Scott Bessent suggested each tariff number may not be final as countries potentially negotiate to bring down their own tariffs on U.S. goods with Trump. He pitched the numbers as a “ceiling” that should give markets cla🧸rity— unless countries respond to U.S. tariffs with tougher policies of their own.

“I would advise none of the countries to panic,” Bessent s𒉰aid.

The across-the-board 10% tariff will kick in on Saturday, and it will be the baseline for tariffs on every country. The reciprocal tariffs will kick in April 9, opening a brief window for negotiations, economists said﷽.

"Higher tariff rates are scheduled to be implemented on 9 April, leaving some scope for near-term de-escalation," wrote Nomura Research Analysts. "The White House fact sheet suggested tariff rates may be decreased in exchange for trade concessions or broader alignment with the U.S. 'on economic and national security matters.'"

Brazil, India, and the European Union indicated they would be interested in negotiating even ahead of the announcement, Morgan Stanley economists and analysts wrote. Tariffs of 10%, 26% and 20% are scheduled to be charged on those country's goods under the new policy respectively.

Trump said Thursday evening that this new policy gives the U.S. power t⛄o negotiate but that countries looking to get concessions on tariffs would hav💙e to provide something “phenomenal” in return.

Tariff Rate Could Also Increase

However, there are also hints from the admi🎶nistration that these rates could increase depending on how countries react.

Some trading partners are considering retaliatory tariffs, levying higher import taxes on U.S. goods in reaction to Trump's policies. The administration has hinted that it could increase the numbers released on Wednesday if that happens.

"I wouldn't try to retaliate—because as long as you don’t retaliate, this is the high end of the number,” Bessent said.

Economists, for their part, don't think that is a bluff.

"Trump’s comments did leave the door open for potential negotiations to lower tariffs, but his executive order also left room for further escalation, saying that the president may further 'increase or expand in scope the duties imposed' should any trading partners retaliate. So watch out for these headlines," wrote Deutsche Bank Strategist Jim Reid.

Update, April 4, 2025: This article has been updated with Trump's comments from Thursday evening.