US treasury secretary hints at restoring 'reciprocal' tariffs on trade partners
The tariffs were imposed in April on countries and regions with large trade surpluses with the US.
Later in the month, the US suspended the measures for 90 days for negotiations, with a deadline set for July 9.
Bessent, who is leading the talks, spoke in an interview with Bloomberg Television on Monday.
He said, "we have countries that are negotiating in good faith, but they should be aware that if we can't get across the line because they're being recalcitrant, then we could spring back to the April 2 levels."
He added, "I hope that won't have to happen."
Also on Monday, White House Press Secretary Karoline Leavitt told reporters that the president will meet his trade team this week.
She said Trump "is going to set the rates for many of these countries if they don't come to the table to negotiate in good faith."
Leavitt said that Trump and his team are finalizing these agreements, and "you'll hear from" them "very soon when it comes to India."
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