WASHINGTON: President Donald Trump will impose tariffs at the rate he threatened last month on trading partners that do not negotiate in “good faith” on deals, Treasury Secretary Scott Bessent said in television interviews on Sunday.
He did not say what would constitute “good faith” negotiations or clarify the timing to announce any decisions to return a country to the various rates Trump initially imposed on April 2.
Trump has repeatedly reversed course since then, notably on April 9, when he lowered his tariff rates on most imported goods to 10 percent for 90 days to give negotiators time to hash out deals with other countries. He separately lowered the rate for Chinese goods to 30 percent. On Friday, he reiterated that his administration would send letters telling nations what their rates would be.
On Sunday, Bessent said the administration was focused on its 18 most important trading relationships and that the timing of any deals would also depend on whether countries were negotiating in good faith, with letters going out to those that did not.
“This means that they’re not negotiating in good faith. They are going to get a letter saying, ‘Here is the rate.’ So I would expect that everyone would come and negotiate in good faith,” he told NBC News’ “Meet the Press.”
He added that those countries that are notified would likely see their rates return to the levels set on April 2.
Asked when any trade deals could be announced, Bessent separately told CNN’s “State of the Union” program: “Again, it will depend on whether they’re negotiating in good faith.”
“My other sense is that we will do a lot of regional deals -this is the rate for Central America. This is the rate for this part of Africa,” he added.
Trump’s ongoing trade wars have severely disrupted global trade flows and roiled financial markets as investors grapple with what Bessent has called the Republican president’s “strategic uncertainty,” in his drive to reshape economic relationships in the US’ favor
Companies of all sizes have been whipsawed by Trump’s swift imposition of tariffs and sudden reversals as they seek to manage supply chains, production, staffing and prices. Congress is also grappling with the tariffs as it weighs revenues and tax cuts in its spending bill.
Walmart, the world’s largest retailer, last week said it would have to start raising prices later in May due to the high costs of tariffs, prompting Trump to slam the company for blaming the increases on his trade policies.
“Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING,” Trump posted online on Saturday.
Bessent said he had spoken to Walmart CEO Doug McMillon on Saturday and that the company would absorb some tariffs. Representatives for the retailer declined to comment.
“Walmart is, in fact, going to ... eat some of the tariffs,” Bessent told NBC. “I didn’t apply any pressure.”
Trump to carry out tariff threats if nations don’t negotiate in ‘good faith,’ US treasury chief warns
https://arab.news/972bx
Trump to carry out tariff threats if nations don’t negotiate in ‘good faith,’ US treasury chief warns
- Bessent: Notified countries likely to see April 2 rates return
- Says Trump administration was focused on its 18 most important trading relationships
Grief, trauma weigh on survivors of catastrophic Hong Kong fire
HONG KONG: Hong Kong fire survivor Yip Ka-kui has turned happy holiday photos into a heartfelt tribute to his beloved wife a month after she died in the huge blaze that destroyed their home.
Yip, 68, is among thousands grieving the 161 killed at the Wang Fuk Court housing complex, a disaster few could imagine happening in one of Asia’s safest and most developed cities.
Even as the Hong Kong government forges ahead with investigations and relief efforts, experts caution that the psychological scars will be hard to heal for survivors, bereaved families and onlookers alike.
In dozens of shots compiled into a memorial video, Yip’s wife of four decades, Pak Shui-lin, 66, gently smiles at the camera at the Pyramids of Giza, the Taj Mahal and the Eiffel Tower.
“I blame myself. I always feel I was late to warn her, so she couldn’t escape in time,” said retired engineer Yip, recalling how the couple tried to flee the burning building on November 26.
Flames quickly engulfed seven out of eight residential towers, which were undergoing renovations and wrapped in substandard netting that may have contributed to the fire’s spread.
Yip got out first. When the fire alarms failed to sound, his wife knocked on neighbors’ doors to warn them, according to one person she saved.
Yip said he did not think Pak was trying to “exchange one life for another,” only that she was “doing what needed to be done.”
“The difference of a few minutes between us means that I will never see her again. That’s what I can’t accept.”
Like fighting a war ‘every day’
Not long after the fire started, counselling psychologist Isaac Yu helped organize dozens of others in his field to support displaced residents.
“The scale, immediacy and level of shock of this (incident) were beyond” anything they had trained for, Yu said.
Those who lost everything might have appeared calm at first, he recalled, but the fear was that they would break down during quiet moments and develop post-traumatic stress disorder.
NGOs such as the Samaritan Befrienders have contacted bereaved families to offer free mental-health services, with additional support available in transitional housing and schools, authorities said.
Many of Hong Kong’s 7.5 million residents obsessively followed live updates of the fire, which could have caused them mental strain, Yu added.
“For those who don’t actively seek help, I’m worried about missing the chance to intervene, which may lead to more serious mental health problems and tragedies,” he said.
Johnson Wong, a 51-year-old business manager, told AFP that his family struggled to process their grief while two of their relatives remained unaccounted for.
While most of the bodies have been identified, some remains have turned to ash and time-consuming DNA tests are needed, police said, adding the death toll could rise further.
Wong’s wife, a nurse, had hoped that her mother and sister would survive. But her worst fears were all but confirmed when she was shown pictures of two charred bodies found inside their flat.
“If the (DNA test) is a match, that marks an ending. But if not, what can we do?” Wong said, adding that the fire had likely deprived his niece, a university student, of her only remaining parent.
“Every day we have been fighting a war... It will take a long time to calm the family.”
‘Incomprehensible’
As Hong Kong marks the festive season, more than 4,600 people displaced by the fire still rely on temporary accommodation including hotels, according to Hong Kong’s government.
Some elderly people who were shunted into unfamiliar districts have had trouble adapting, according to local media.
Having moved in with his sons, Yip said his “unrealistic” wish was for his home to be rebuilt the way it was.
The government has yet to commit to renovating or knocking down the ruined estate, and industry figures say resettlement will take years.
On Tuesday, a judge-led committee visited the site as part of an investigation that is expected to yield a report in nine months.
Police said in early December that 21 people linked to various construction and contractor firms had been arrested, most for manslaughter and some for fraud. Those numbers have not been updated since.
Yip said he hoped the authorities would find the truth in the many “incomprehensible” aspects of the tragedy, but Wong was less sanguine.
“Getting an answer is better than none, but can it restore what we lost?” Wong said.
“What we need most are our family members. Two of them are gone.”
