After President Donald Trump last week raised tariffs on foreign goods to an average of 17.3% for countries that haven't reached a deal, they know he's deadly serious, former Wisconsin Gov. Scott Walker, now president of the Young America's Foundation, said on Newsmax on Sunday.
"The announcement with the European Union was tremendous, just because that's by far one of our largest trading partners. To have that success, I think, bodes well," Walker said on Newsmax's "Sunday Report. "President Trump, I think, has had the most success in his first six months that we've seen probably, if not in modern times, ever, and this is just a part of it."
Now other countries are seeing that Trump wants a "real deal," said Walker, adding that he thinks the other nations will fall in line with the U.S. by Labor Day.
Meanwhile, the impact of the deals will be felt over time, and "that's why you want to get the best trade deal possible."
Walker said he and Trump discussed the tariffs during his first term, when the president was on his way to Canada for a G7 summit.
"He talked about offering no tariffs in return for the other six industrial nation leaders saying no tariffs as well," said Walker. "Now, of course, they didn't do that. That's the key. I think he's trying to get as close to zero as possible. But it's not just what the United States is doing; it's what the others are doing."
He said he thinks there will be some companies, like Walmart, talking about prices going up as a result of the tariffs, but he predicted that the prices will come back down.
"Once they get these deals worked out, you're going to see prices go down and the economy continue to improve," said Walker. "That's good news, not just for the president but for his allies in Congress."
Meanwhile, Canada, one of America's largest trading partners, has not yet come to a deal, but Walker said that, considering the close relationship between the countries, a settlement must be reached.
"They need to be paying attention not only to economic policy, but to things like the Middle East, to fall in line with where the United States is if they want to have a good trade relationship," said Walker.
China's tariff truce, meanwhile, is set to expire on Aug. 12, and Walker said that as other countries fall in line on trade deals, the Chinese will feel the pressure.
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Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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