The US Finance Minister Scott Bessent takes part in a press conference in the Rosenbad government districts after the trade talks between the USA and China in Stockholm, Sweden, came to the conclusion on July 29, 2025.
Magnus Lion Hall | TT | About Reuters
Finance Minister Scott Bessent asked Corporate America, investors and US trading partners on Wednesday, if the collective bargaining prices rise on August 1st, since the business has not yet been achieved, and said that countries can “do another” after President Donald Trump's deadline has expired.
“You will only return to your mutual tariff level on April 2,” Bessent said at a political event with a conservative website Breitbart News and added that a higher tariff rate for a certain country can apply for three days “, it can be for three months.”
“You can continue to negotiate,” said Bessent, who dealt with America's trading partners and suggests that Trump's tariff period for August 1 was another negotiation instrument for a white house that was put under pressure to accept higher tariffs and to give us products more access to their domestic markets.
Bessent said that if the tariff rate of a country ends up at the level that was originally announced on Trump's “Liberation Day” in April, it will “get a lot of attention”.
Many of the rates of April 2 are significantly higher than the currently existing tariff tariff -base rate of 10%.
“I would expect it to be a busy August,” said Bessent and was a rush of trade negotiations after Friday.
The Trump administration claims that the trading period is fixed on August 1st, even if numerous countries, including some top trading partners, have not yet completed any kind of trade agreement.
“The first period in August is the first August period – it is strong and is not expanded,” Trump wrote in a social post anger on Wednesday.
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Beselted remarks reflect comments that he made on Tuesday when he said that it was “not the end of the world if these Snapback tariffs are used from a few days to a few week”, and it again underlines that the mutual tariff rates for countries that could negotiate in “faithful and faith” could only be temporary.
However, it is unlikely that Besent's statements in the effect of investors and companies will calm down that Trump's tariffs come into force, especially since companies already have difficulty keeping up with the developing trade environment.
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