Besten: 100 countries will be subject to a 10% reciprocal tariff.
US Treasury Secretary Scott Bessent revealed that approximately 100 countries are likely to face a minimum retaliatory tariff of 10% after July 9th.
US Treasury Secretary Scott Bessent warned that countries that have not finalized a trade agreement with the United States will face the initial retaliatory tariffs announced on April 2, after the 90-day moratorium expires on July 8.
In an interview with CNBC, Bessent said that many countries are hesitating until the last minute in the hope of reaching the best possible deal. However, he cautioned them to be careful because the tariffs could revert to the levels announced on April 2nd.
When asked about the possibility of extending the deadline, Mr. Bessent affirmed that he would not publicly announce an extension, and urged countries to expedite the completion of the agreement before this time.
In another interview on Bloomberg Television, Bessent revealed that around 100 countries are likely to face retaliatory tariffs of at least 10% after July 9th. He expressed hope that a series of trade agreements would be announced before this deadline.
The 10% tariff is the lowest of the reciprocal tariffs for each country that the United States announced in April.
