According to VNA, US Treasury Secretary Scott Bessent warned on June 30 that many countries could face significantly higher tariffs after July 9 - when the temporary tax suspension ends, even as they are negotiating in good faith with Washington.
Mr. Bessent said he expected a "row" of trade deals to be reached before the above deadline.
Otherwise, the current 10% tariff that the US imposes on imported goods from many countries will be raised to between 11% and 50%, according to the counterpart tax rate announced by President Trump on April 2.
Bessent's statement stated: "We have partners who are negotiating with goodwill, but they need to understand that if we cannot reach an agreement because they are too tough, the US is ready to return to higher tariffs as announced in April. I hope that won't happen."
In addition, he also emphasized that President Donald Trump has the right to decide whether to extend the tax or not.
Also on June 30, White House economic adviser Kevin Hassett said the US would resume trade talks with Canada immediately after Ottawa agreed to lift digital services tax targeting US technology companies.
Speaking on Fox News, Mr. Hassett said this was a request from President Trump at the G7 Summit recently held in Canada.
Mr. Hassett said that the Canadian side has now agreed, paving the way for the resumption of trade negotiations between the two countries.
