Kevin O'Leary expects the Trump administration to eventually lift the broad tariffs

ChainCatcher news, "Shark Tank" star investor Kevin O'Leary stated on Monday that he believes the Trump administration will ultimately revoke the broad tariffs announced last week against 185 countries.

O'Leary said, "Economic factors will ultimately dominate everything, and I don't think the Trump administration is foolish." He views the tariffs as a negotiation tool and expects countries to soon engage in trade talks with the U.S. Trump's tariff policy has triggered panic among investors, leading to a nearly 14% drop in the S&P 500 year-to-date and a 19% decline in the Nasdaq index. Some countries, such as Japan and Vietnam, have reached out to the U.S. seeking negotiations, while China has stated it will "fight to the end."