The US is adopting a tougher stance in trade negotiations, with Treasury Secretary Scott Bessent announcing the reinstatement of maximum tariffs against countries that do not negotiate “in good faith,” echoing President Trump’s April 2 statement about unfair trade practices. Recent tariff rates have soared, particularly against China, but a temporary agreement has been reached to reduce these rates for 90 days. Bessent also criticized Walmart for raising prices due to tariffs and addressed concerns over Moody’s downgrade of the US credit rating, attributing the issue to previous administration spending policies.
