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U.S. Treasury Secretary Scott Bessent mentioned warned on Monday that international locations may nonetheless face sharply larger tariffs on July 9 even when they’re negotiating in good religion, including that any potential extensions might be as much as President Donald Trump.
Bessent, who earlier floated the thought of negotiating extensions, instructed Bloomberg Tv that he expects there to be “a flurry” of commerce offers main as much as the July 9 deadline, after which 10 per cent U.S. tariff charges on items from many international locations are set to snap again to Trump’s April 2 introduced charges of 11 per cent to 50 per cent.
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“We have now international locations which are negotiating in good religion, however they need to remember that if we are able to’t get throughout the road as a result of they’re being recalcitrant, then we may spring again to the April 2 ranges. I hope that gained’t must occur,” Bessent mentioned.
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