Bessent warns countries refusing to negotiate can expect increased tariffs

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Treasury Secretary Scott Bessent said he’s prepared to set tariffs against countries that won’t negotiate with him.

The United States recently secured a trade deal with China that included negotiations on “tariffs, non-tariff trade barriers, currency manipulation, and subsidies of labor and capital,” according to Bessent. China was an outlier among foreign countries facing tariffs, with a 145% initial tariff. The tariff has since been reduced to 30%. The U.S. has also secured a trade deal with the United Kingdom.

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