Bessent: Trump tariffs set to 'boomerang back' to higher rates if deals not reached

Treasury Secretary Scott Bessent said on Sunday that countries will see their respective tariff rates “boomerang back” on Aug. 1 to the higher levels announced three months ago, if they don’t strike a deal with the U.S. sooner.

In Sunday show interviews, Bessent doubled down on President Trump’s comments Friday, in which the president told reporters that the “reciprocal” tariffs — first announced on April 2 and then paused for 90 days a week later — would officially take effect on Aug.