Treasury Secretary Scott Bessent said that those who fail to negotiate in good faith will receive a letter notifying them of the tariff they will face.
‘I think we’ll have a great conversation, and hopefully it will be the beginning of some long-term trade negotiations,' U.S. Vice President JD Vance said.
An analyst said Walmart appears more inclined to raise prices on general merchandise, while choosing to absorb more of the cost increases in groceries.
While the president suggested that exemptions from the 10 percent baseline are possible, he said only countries offering ‘exceptional’ terms may see relief.