The United States’ top tariff negotiator and Treasury Secretary Scott Bessent has said President Trump will stick with the highest tariff rates presented last month on countries that do not negotiate “in good faith”.
Nations that come into the crosshairs will receive letters from Bessent outlining the maximum tariff rates if “they’re not negotiating in good faith," he said in an NBC TV interview.
“Some countries were at 10%, some were substantially higher.
“[If] you don’t want to negotiate, then it will spring back to the [2 April] level.”
What “good faith” negotiations look like wasn’t clarified, nor is there a deadline for a move like that to happen.
The UK and China are the first two major economies to have negotiated deals so far, with the British negotiating a flat 10% tariff rate with exemptions that carry 0% increases on aluminium, ethanol and aviation parts.
Find out more: UK trade deal 'first of many', as tariffs reduced to 10%
A 90-day pause on tariff implementation between the U.S. and China was brokered last week too, coming down from a 145% tariff imposed on the latter, down to 30% as negotiations continue.
Find out more: Markets go ballistic as US, China agree tariff pause
