Tariffs reset to Trump’s April level without new deals by August 1st
“Baron’s Round Table” panelists Jacob Sonnencine, Teresa Rivas and Andrew Barry discuss three topics investors need to know.
If the country does not attack new deals with the US by August 1, tariffs will be reset to President Donald Trump’s original April level, Treasury Secretary Scott Betting said Sunday.
Made by Bescent The announcement when it appeared on “Fox News Sunday” tells host Shannon Bream that some trade deals are on “home stretch.”
“Can I say some of these trading partners have a little pause at the July 9 deadline?” asked Bream.
“I don’t think it’s a bit of a pause because I wonder what happened. As part of the trading team, the great thing about President Trump being on our side is that he created the maximum leverage,” Bescent said.
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Treasury Secretary Scott Bescent says he hopes to see progress in trade transactions by August. (Andrew Harnik / Getty Images / Getty Images)
“I think we’re going to keep things moving over the next few days and weeks by telling our trading partners that the boomerang can return by April 2,” he added.
Bescent’s comments come amid speculation that Trump could fire the Federal Reserve Chairman Jerome Powell He appoints Bescent to the post instead.
The president appears in the latest escalation of the feud between Trump and Powell Powell asks to resign Last week, the head of the Federal Housing and Finance Agency (FHFA) alleged that Powell had given “deceptive” testimony to Congress.
Federal Reserve Chairman Jerome Powell has been caught up in a fight with President Donald Trump. (Alex Wong / Getty Images / Getty Images)
Bream pushed Bescent on whether he was considering a role on Sunday, asking how effective he thought it would be to fire Powell publicly.
“I’m a basketball fan. There are two ref schools in basketball. There are Bobby Night School and Dean Smith School. And obviously, President Trump is at Bobby Night School. Bobby Night won three national championships.
President Donald Trump will be seen in the oval office of the White House in Washington, DC on June 27, 2025. (Reuters/Kensedeno/Reuters Photos)
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Bescent dodged the topic last week and told Fox News’ Maria Bartilomo that he would go wherever Trump tells him to go.
“We have a lot of great candidates for the Federal Reserve. I think we do our best job in Washington. We can interact with the president. The cabinet he chose is amazing. Being part of that cabinet is a lifelong dream for me.