U.S.: Negotiation Opportunity to Avoid Tariffs in April

(WASHINGTON) - The United States will present a tax proposal to its trading partners on April 2, which is based on its own rates, along with non-tariff trade barriers and other elements, as well as offering a negotiation option to bypass a "tariff wall", Treasury Secretary Scott Bessent stated on Tuesday. "On April 2, each nation will receive a number that we believe reflects their tariffs," Bessent said in an interview with Fox Business Network. "In some cases, it could be low, and in others, quite high."

President Donald Trump has mentioned that on April 2, his "reciprocal tariffs" will be implemented to align U.S. rates with those of other nations and to counter what his administration considers unfair trade practices. However, Bessent's comments suggest that there will be a window for negotiation before these new import taxes are enforced. "We're going to approach them and say, 'Look, here are the levels we believe should be the tariffs, non-tariff barriers, currency manipulation, unfair financing conditions, and labor suppression. If you eliminate these issues, we won’t implement the tariff wall,'" Bessent explained, referring to trading partners. Those countries that fail to reduce their trade barriers will face higher tariffs set to protect the U.S. economy, its workers, and industries, Bessent added.

In the current financial context, it is crucial for countries to seize this negotiation opportunity. Reducing trade barriers could be key to maintaining solid trading relationships and avoiding an increase in tariffs that would impact the economy. Cooperation and understanding among nations are essential for fostering a more balanced and sustainable global trade.