US Treasury Secretary explains Trump's 90-day tariff pause
Photo: Scott Bessent, US Treasury Secretary (Getty Images)
The US has announced a 90-day pause on the imposition of additional tariffs on other countries to engage in active negotiations, as stated by US Treasury Secretary Scott Bessent, according to Bloomberg.
According to Bessent, the decision to pause was made so that US President Donald Trump would have "leverage for negotiations."
The Treasury Secretary noted that Trump himself would take a direct role in the talks. It is expected that there will be many discussions between the US and other countries on tariff matters.
Bessent also refuted rumors that the pause decision was made following a sell-off in the Treasury bond market.
Tariff pause
Last week, the US imposed additional tariffs on imports from several countries, including the European Union, Ukraine, China, and others.
US President Donald Trump demanded that other countries refrain from imposing retaliatory tariffs and threatened even harsher measures.
On April 9, it became known that Trump had announced a 90-day pause with a reduced 10% tariff. At the same time, the US imposed a 125% tariff on China, as Beijing ignored the American leader's threats and responded symmetrically.
Meanwhile, the European Union approved tariffs on US goods worth about 21 billion euros (approximately 23.2 billion dollars).
