** Shares of some industrial equipment makers fall in extended trading after U.S. President Donald Trump's tariff announcements

** Caterpillar CAT.N and Deere & Co DE.N down more than 2% each

** Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners

** "It will take years and billions of dollars to bring manufacturing jobs from new plants online, whereas expansions at existing factories could happen much sooner" - Art Wheaton, director of Labor Studies, Cornell University

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))