President Donald Trump indicated a willingness to negotiate reciprocal tariffs announced earlier this week if other countries present “phenomenal” terms.

His comments on Apr. 3 followed assertions from White House officials that the tariffs would be non-negotiable, contributing to global market unease.

Set to take effect on Apr. 5, the tariffs impose a 10% baseline levy on all imports and higher duties on select nations.

This announcement triggered significant stock market losses, with the S&P 500 losing approximately US$2 trillion in value amid fears of a global trade war.