The USA will introduce customs duties from August 1. “It will cause more pressure on other countries”

The Secretary of the US Treasury Scott Bessent said on Monday that the introduction of high customs rates for countries from 1 August “will put more pressure on these countries to make better agreements.”

In the opinion of the CNBC agency, the Bessenta statements indicate that he perceives the huge duties planned by President Donald Trump on the most important commercial partners – which were postponed until August 1 – not so much as the final date of signing contracts, but as another negotiating tactic aimed at taking pressure on countries affected by duties and forgetting them to accept favorable conditions for states United.

“We'll see what the president would want to do,” said Bessent in CNBC when he was asked if the deadline for next month could be extended for countries that conduct productive talks. This idea has been supported by administration representatives in recent months.

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“I think that a higher level of tariffs will cause more pressure on these countries so that they will conclude better contracts,” Bessent said.

Bessent's statement coincided with others in recent days, when the leading officials of Trump's administration claimed that on August 1 it was a “hard term”.

The Secretary of Trade Howard Lutnick said on Sunday that “nothing stops the countries from talking to us after August 1, but they will pay duties from August 1”.

Bessent also said that “our trade partners were said that the tariffs could return to levels of April 2.”

“We can continue the conversations, but I repeat that the negotiations are progressing quickly, but we will not hurry to conclude a contract,” he said.

The deadline for introducing customs by Trump was moved several times since he was announced on April 2, when he imposed high duties on trade partners. In the opinion of experts, he undermines whether the deadline set for August 1 will be met, and whether the administration perceives him as another tool aimed at encouraging trade partners to join the negotiations.

Another signal that Bessent perceives the duties, which are to be introduced on August 1 as a negotiating tool, is his statement on Monday, in which he stated that the administration “more depends on high quality” commercial contracts than on their signing until August 1.

“The quality of the transaction is more important, not its date,” said Bessent. (PAP Biznes)

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