Kevin O'Leary: It is expected that the Trump administration will eventually cancel widespread tariffs

On April 8th, "Shark Tank" star investor Kevin O'Leary said on Monday that he believes the Trump administration will ultimately cancel the broad tariffs announced last week against 185 countries. O'Leary thinks: "Economic factors will eventually dominate everything, and I don't think the Trump administration is stupid."

He sees tariffs as a negotiating tool and expects countries to soon start trade negotiations with the United States. Trump's tariff policy has sparked panic among investors, causing the S&P 500 to fall nearly 14% this year and the Nasdaq index to drop by 19%. Some countries such as Japan and Vietnam have already contacted the United States for negotiations, while China has stated it will "fight to the end".