U.S. May Postpone Tariffs for Trade Allies
(MENAFN) On Wednesday, U.S. Treasury Secretary Scott Bessent indicated that the Trump administration is "highly likely" to postpone tariffs for nations participating in "good faith" trade discussions with the United States.
Speaking to the House Ways and Means Committee, Bessent emphasized that negotiations are ongoing with 18 "important trading partners" in hopes of forming trade agreements.
According to Bessent, “It is highly likely that those countries -- or trading blocs, as in the case of the EU -- who are negotiating in good faith, we will roll the day forward to continue good faith negotiations.”
He clarified that this courtesy would not extend to those who are not participating sincerely, stating, “If someone is not negotiating, then we will not.”
Although diplomatic efforts with numerous countries are underway, only a limited number of arrangements have been finalized.
So far, the U.S. has publicly confirmed just one formal trade pact—with the United Kingdom—and a preliminary framework deal with China.
Commenting on the situation with China, Leader Donald Trump posted on his Truth Social platform that the U.S. "is getting a total of 55% tariffs, China is getting 10%" under the prevailing terms.
The administration is continuing to push for one-on-one trade agreements while using the threat of tariffs as a strategic tool to encourage hesitant nations to come to the negotiating table.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
