Treasury Secretary Scott Besant said on Sunday that countries saw their respective tariff rates “Bumerang Back” on 1 August to a high level declared three months ago, if they do not soon deal with the US.
In Sunday’s interview, Besent doubled on the comments of President Trump on Friday, in which the President told reporters that “mutual” tariff was announced on April 2 and then stopped for 90 days a week-officially effective on 1 August, not on 9th July, when the 90-day break is over.
“We will see,” Besent said on CNN’s “State of the Union”, when asked “what happens” on 9 July. “I am not going to remove the playbook because we are going to be very busy in the next 72 hours.”
Bessent said Trump “Sending letters to some of our business partners, saying that if you do not advance things forward, on August 1, you will return to your April 2 tariff level.”
“So, I think we are going to see very soon,” the secretary continued. “And you know, grain [Bash]We are probably going to send 100 letters to small countries, where we do not have much trade, and most of them are already at 10 percent baseline. ,
However, Besant insisted that the new effective date is neither a new time limit nor a stagnation on the original time limit declared three months ago.
“This is not a new time limit,” Bessent said on CNN. “We are saying, this is when it is happening. If you want to speed up things, it is on it. If you want to go back to the old rate, it is your choice.”
In an interview by “Fox News Sunday”, anchor Shannon Breame asked if it was “appropriate” to be called the new date “a break”.
“I don’t think it’s a little break because I think what has happened, there is a lot of crowd in the stretch of the house,” he said.
Trump “took maximum profit” before the time limit to attack a deal to close high mutual tariffs, Besent told him.
“So, by telling our business partners that they can return by the date of April 2, I think it is really going to move things with the next few days and weeks,” Besent said.
