US President Donald Trump. , Photo Credit: Reuters
On April 2, the Trump administration will give a proposed US tariff rate to business partner countries based on its rates, non-tariff trade obstacles and other factors, as well as the opportunity to interact to avoid a “tariff wall”, US Treasury Secretary Scott Besant said on Tuesday (March 18, 2025).
“On April 2, every country will get a number that we believe that represents their tariffs,” Bessent said on the “Morning with Maria” of the Fox Business Network. “For some countries, it can be quite low, for some countries, it can be quite high.”
Mr. Trump has said that our “mutual tariff” will be effective on 2 April to bring us tariffs at the levels of other countries and to offset business practices on 2 April. But Besent’s comments indicate that the dialogue period may occur before the collection of new import duties.
“We are going to them and say, ‘Look, here, where we think there are tariff levels, non-tariff barriers, currency manipulation, inappropriate money, labor suppression, and if you will stop it, we’ll not put the tariff wall,” Besent said about trading partners.
Besent said that countries that fail to reduce their trade obstacles will face Stapper tariffs for the purpose of protecting the American economy, their workers and industries.
Published – March 19, 2025 10:12 PM IST
