Trade Turbulence: Trump's Tariff Tango Intensifies

President Donald Trump is preparing to enforce tariffs on countries that do not engage in 'good faith' negotiations on trade deals, according to Treasury Secretary Scott Bessent. Speaking in a series of television interviews, Bessent outlined the administration's approach to dealing with its most crucial trading relationships.

He noted that the focus is on 18 key states, and those failing to meet the 'good faith' criteria will receive notification letters detailing their tariff rates. The tariffs, initially imposed on April 2, could revert to their original levels if nations do not comply, with specific rates for different regions, Bessent explained.

This tariff strategy has caused significant disruption in global trade flows. Companies, including Walmart, are feeling the strain of unpredictable trade policies affecting supply chains and costs. As Congress deliberates over the economic impact, Trump's administration maintains that these actions aim to shift economic power in favor of the United States.

(With inputs from agencies.)