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
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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
Tanzania opposition says 2,000 killed in election violence
- Opposition party Chadema’s deputy chairperson John Heche said Tanzania witnessed “mass killings of more than 2,000 people and over 5,000 injured in the space of just one week“
- The violence was carried out “with direct involvement of the state“
DAR ES SALAM: Tanzania’s main opposition party on Thursday said more than 2,000 people were killed in a week of election violence, calling for sanctions against officials it accused of crimes against humanity.
President Samia Suluhu Hassan was declared the winner of October 29 polls with 98 percent of the vote, but her government was accused of rigging the polls and overseeing a campaign of murders and abductions of her critics that sparked nationwide protests and riots.
Opposition party Chadema’s deputy chairperson John Heche told reporters that Tanzania witnessed “mass killings of more than 2,000 people and over 5,000 injured in the space of just one week.”
He said the violence was carried out “with direct involvement of the state” and that it amounted to “crimes against humanity.”
Previous opposition counts had put the deaths at more than 1,000. The government has not given a death toll.
Heche urged the international community to “impose sanctions on all individuals involved in planning and executing these acts of criminality and crimes against humanity.”
In a live online broadcast, he said those responsible should be subjected to travel bans, including restrictions on their families.
Heche also said the unrest triggered a surge of people fleeing the country, alongside “the abduction and enforced disappearance of hundreds of civilians.”
Chadema further accused security units of carrying out rapes, torture and “gruesome killings,” and of engaging in widespread looting and arbitrary arrests.
The party urged authorities to return the bodies of those killed so families could bury them.
Authorities have continued to stifle dissent, with planned protests earlier this week seeing empty streets and a significant security presence.
Hassan last week justified the killings, saying it was necessary to prevent the overthrow of the government.
“The force that was used corresponds to the situation at hand,” she said in a speech.
Hassan has formed an inquiry commission into the violence, which the opposition says includes only government loyalists, instead calling for an independent investigation.
