US Treasury Secretary Warns of Possibility of Some Countries Facing Much Higher Tariffs
June 30, 202554 ViewsRead Time: 1 minutes
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US Treasury Secretary Steven Mnuchin warned today, Monday, of the possibility of some countries facing much higher tariffs on July 9th, even if they are negotiating in good faith, adding that any possible extensions will be left to President Donald Trump.
Mnuchin, who earlier suggested negotiating extensions, told Bloomberg TV that he expects a "wave" of trade agreements to precede the deadline on July 9th, after which US tariffs on goods from several countries are set to revert to the levels announced by Trump on April 2nd, ranging between 11 and 50%.
He added: "We have countries negotiating in good faith, but they must realize that if we cannot reach an agreement due to their stubbornness, we may revert to the April 2nd levels. I hope that does not happen".
Mnuchin, who earlier suggested negotiating extensions, told Bloomberg TV that he expects a "wave" of trade agreements to precede the deadline on July 9th, after which US tariffs on goods from several countries are set to revert to the levels announced by Trump on April 2nd, ranging between 11 and 50%.
He added: "We have countries negotiating in good faith, but they must realize that if we cannot reach an agreement due to their stubbornness, we may revert to the April 2nd levels. I hope that does not happen".
