U.S. Treasury Secretary: If countries do not reach a trade agreement with the U.S., tariffs will return to "reciprocal" levels.

[U.S. Treasury Secretary: Tariffs Will Restore to “Reciprocal” Levels If Countries Do Not Reach Trade Agreements with the U.S.] U.S. Treasury Secretary Scott P. Benset stated on Sunday that if countries do not reach a trade agreement during the 90-day tariff suspension period, the tariff rates will soon return to “reciprocal” levels. “President Trump has warned them that if they do not negotiate in good faith, tariffs will rise back to the levels of April 2,” Benset said on the program. Benset revealed that the U.S. is focusing on finalizing agreements with 18 “important” trading partners but did not specify the exact speed at which the tariffs would restore to “reciprocal” rates.