US Treasury Secretary Scott Bessent on Monday warned that they could return to April 2 level tariffs if negotiating countries stay "recalcitrant" in trade talks.
"We have countries that are negotiating in good faith, but they should be aware that if we can't get across the line because they are being recalcitrant, then we could spring back to April 2 levels," Besent told Bloomberg Television.
"I hope that won't have to happen," he said.
Regarding whether they would push back the July 9 tariff deadline, Bessent stated that this decision will be up to US President Donald Trump.
"We will see, but as always, there will be a flurry going into the final week as the pressure increases," Bessent said in response to a question about possible trade deals ahead of the 90-day tariff delay period that expires on July 9.
Bessent noted that they have received unprecedented offers from countries on issues such as lowering tariff and non-tariff barriers.
"In terms of bringing tariffs, non-trade barriers - we are leaving aside currency - the financing of the labor and capital in an advantageous way, all these countries are pulling back," he said.
On April 2, Trump announced his "reciprocal" tariffs ranging between 10% and 50% on most countries.
He suspended those tariffs for 90 days on April 9, except for China.
