Despite overwhelming critical consensus, Trump calls tariffs "the most beautiful word in the dictionary" and hasn't backed down since his Nov. 5 reelection.

But the threats may be a "negotiating tactic" to give the United States leverage in mediating trade pacts, Peterson Institute for International Economics (PIIE) President Adam Posen said during a Nov. 14 virtual event.

And it may be working already.

Japan, South Korea, the United Kingdom, Canada, "and maybe some others, are likely lining up offers," he said. "These offers will be in the form of, 'We promise to buy more natural gas from the U.S. ... We promise to move more production to the U.S.'"

European Commission President Ursula von der Leyen suggested on Nov. 8 that European Union (EU) nations can buy more liquified natural gas (LNG) from the United States to avoid tariffs.

Speaking to reporters after congratulating the president-elect on his reelection, von der Leyen said Trump appeared eager to sustain what the Congressional Research Service calls "the world's largest trade and investment relationship," which accounts for 46 percent of global gross domestic product.

About 48 percent of LNG used by EU nations is imported from the United States, according to the U.S. Energy Information Administration. Noting that EU nations import up to 16 percent of LNG from Russia, von der Leyen said there's room for a deal.

"Why not replace it by American LNG, which is cheaper for us and brings down our energy prices?" she asked.

Posen said this is exactly what Trump's team wants to achieve.

"The ideal outcome for the Trump administration is they've made this threat, a set of threats, but they don't actually have to implement them, and they get these goodies," he said.