Treasury’s Faulkender Sees Sub-April 2 Tariff Rates After Talks

Deputy Treasury Secretary Michael Faulkender said the expectation is that, following negotiations with US trading partners, tariffs won’t go back as high as the reciprocal levies that President Donald Trump announced on April 2.

“If you look at the tariff rates that we anticipate going forward as a result of our negotiations, they would come down signficiantly from what they were announced on April 2,” Faulkender said in an interview on Bloomberg Television.

WATCH: US Deputy Treasury Secretary Michael Faulkender shares that he isn’t worried about higher prices as President Trump’s tariff deadline looms. He also talks about the Trump Tax Bill and whether or not the legislation is on track to meet its July 4th deadline.

Source: Bloomberg

Trump put the reciprocal levies — aside from a universal 10% import surtax — on pause April 9 for three months, with that deadline now looming ...