Trump Officials To Trading Partners: Accept U.S. Tariffs Or Negotiate

As the White House rushed to secure trade concessions ahead of its self-imposed deadline, administration officials were in full force, delivering a clear message: accept the tariffs or come to the negotiating table. Treasury Secretary Scott Bessent said rates would return to higher levels on August 1 without new deals, Liz Moyer reported for Barron’s Daily.

The BRICS bloc criticized U.S. trade policies and recent strikes on Iran during its summit over the weekend. I Photo: Brics

In an interview with CNN, Bessent warned that countries must advance negotiations or face a “boomerang” effect — from the current 10% baseline to the higher tariff rates President Donald Trump announced in April.

Those rates, suspended until July 9 to allow room for talks, range mostly from 20% to 49%.

Since April, the U.S. has struck agreements with the UK and Vietnam and established a framework with China. Ongoing discussions continue with India and the European Union.

Trump has also proposed an extra 10% tariff on countries aligning with the “anti-American policies” of the BRICS group, which includes Brazil, Russia, India, China, and South Africa, among others.

The BRICS bloc criticized U.S. trade policies and recent strikes on Iran during its summit over the weekend.

Trump, for his part, signaled a preference for efficiency in negotiations. “I think letters are better for us,” he told reporters. “A simple tariff is simpler than sitting down and working 15 different things.”