<ul><li>Treasury Secretary Scott Bessent stated that President Donald Trump may raise tariff rates for nations not negotiating trade deals with the US in 'good faith.'</li><li>Bessent emphasized that failure to negotiate sincerely may lead to tariff rates reverting to the levels set in April, with some countries facing tariffs as high as 10% or more.</li><li>Trump's administration issued a 90-day pause on higher tariff rates post the 'Liberation Day' speech, except for China with tariffs raised to 145% in April. China and US have since adjusted their tariff rates during ongoing trade talks.</li><li>In May, a trade framework was established between the US and UK, resulting in the US removing tariffs on British steel and autos, while US farmers gained increased market access in the UK.</li></ul>

Scott Bessent says Trump will raise tariffs again on any nation that doesn't negotiate in 'good faith'

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