Scott Bessent has warned that US tariffs on imports from some countries will “boomerang” back to the steep levels set by Donald Trump in April unless they quickly offer concessions and strike deals with Washington.
The US Treasury secretary’s comments came ahead of Wednesday’s end to a 90-day pause in the higher levies which has helped soothe markets and left room for talks between the US and its top commercial partners.
However, Trump has only struck three trade pacts during this period — with the UK, China and Vietnam — leaving the rest of the global economy, including top US allies such as the EU, Japan and South Korea, in limbo and facing renewed threats of high tariffs.
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