‘Tariffs can return as a boomerang,’ says Scott Bessent about negotiations

(Countries) think they can get the best deal. And, as I warned, when I did other interviews, these countries should be careful because their rates can return as a boomerang for the April 2 rate
Scott Bessent, US Treasury Secretary, in an interview with CNBC

There is no widespread inflation in the domestic market. Bessent commented on the fear of the US market, which feared a widespread increase in inflation and consequent damage to consumption. “You can have a single price increase because of the rates. But in terms of widespread economic inflation, I don’t think they cause it,” he said.

“Tariff” was suspended a week after the announcement in April for 90 days. At this time, there is a 10% global rate except for some products – as steel and aluminum – and countries such as Canada, Mexico and China. According to Bessent, comments that tariffs would damage the economy and markets did not materialize. “The market has had the fastest recovery of all time, since April. And we are in new maxims in the market,” he said.

* With information from Estadão Content