Treasury Secretary Scott Bessent said on May 18 that reciprocal tariffs could return to the levels set by President Donald Trump on April 2 if trading partners don’t negotiate in good faith.
On April 2, Trump announced a minimum 10 percent tariff on nearly all imports, with higher levies on roughly 60 nations labeled as the “worst offenders” in trade imbalances with the United States as part of an effort to close trade deficits. He subsequently granted a 90-day pause to most countries to allow time for negotiations, while maintaining a baseline 10 percent tariff.
