US President Donald Trump made fresh tariff threats against major trading partners even as his Treasury secretary suggested extending a pause on the levies.
The sharply diverging remarks encapsulated the White House’s headspinning trade policy: Trump threatened to impose a 10% duty on countries aligned with the BRICS bloc following a weekend summit, and said the US would begin delivering tariff letters on Monday. However, Scott Bessent said the letters wouldn’t contain ultimatums and voiced openness to continuing trade negotiations beyond Wednesday, when a reprieve on Washington’s “Liberation Day” duties expires. Global stock markets fell amid the uncertainty.
The White House’s rhetoric has become more circumspect recently: The administration predicted it would reach 90 trade deals during its 90-day tariff suspension, but is now targeting a handful of agreements while postponing the most vexing issues.
