Treasury Secretary Scott Bessent has warned nations that have yet to make a trade deal with the U.S. that tariffs could revert to a reciprocal level if a deal is not reached soon.
“President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level,” Bessent stated.
Bessent did not specify the timeline for reverting to “reciprocal” tariff rates; however, he mentioned that President Trump was ready to impose tariffs on entire regions, rather than limiting them to specific countries.
“There are a lot of smaller trading relationships that we can just come up with a number. My other sense is that we will do a lot of regional deals — ‘this is the rate for Central America, this is the rate for this part of Africa,” he concluded.
By CEO NA Editorial Staff
