US Treasury chief says extension of tariff relief possible for some
WASHINGTON, DC – APRIL 28: U.S. Treasury Secretary Scott Bessent speaks with reporters after attending a meeting at the Capitol Building on April 28, 2025 in Washington, DC. (Photo by Anna Moneymaker / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
WASHINGTON, United States — US Treasury Secretary Scott Bessent said Wednesday that an extended pause on higher tariff rates is possible for some countries, as a deadline approaches for dozens of economies to face steeper levies.
“It will be up to President (Donald) Trump, but it is my belief that if someone is negotiating in good faith, that an extension will be possible,” Bessent told lawmakers.
Trump unveiled sweeping tariffs on most trading partners in April but halted higher rates on many countries until early July while negotiations are underway.
READ: Trump pauses most of his tariffs
But for most countries, the 90-day pause on reciprocal tariff increase will expire on July 8.
READ: Philippines upbeat on conclusion of trade talks with US
Top United States and Chinese negotiators have announced a “framework” agreement late Tuesday following two days of marathon talks in London.
