US Treasury Secretary Threatens to Reinstate Tariffs If Negotiations Fail

US Treasury Secretary Steven Mnuchin confirmed on Monday, June 30, that the Trump administration may reimpose previously announced tariffs on "Liberation Day" on some countries if trade negotiations do not make sufficient progress.

Mnuchin stated: "There are countries negotiating in good faith, but they must understand that if we cannot cross the line due to their stubbornness, we may return to the level of April 2. I hope that does not happen."

This statement comes days before the expiration of the tariff suspension set for July 9, which was announced on April 9 for a 90-day period, while maintaining a 10% tariff on those countries.

Financial markets experienced a sharp decline when these tariffs were initially announced, before President Trump decided to suspend them after one week.

On the other hand, a White House official informed NBC News that 55% of the tariffs are not new, including the current 30% US tariffs on China, in addition to other tariffs at 25% on specific products that were previously applied.