Washington: US Treasury Secretary Scott Bessent announced that the Trump administration is "highly likely" to delay tariffs on countries involved in "good faith" trade negotiations with the United States. Bessent made this statement during his testimony before the House Ways and Means Committee, indicating that the administration is actively working with 18 "important trading partners" to forge trade deals.

According to Anadolu Agency, Bessent emphasized the administration's openness to extending the timeline for these negotiations, particularly for countries or trading blocs like the European Union that are actively engaged in discussions. "It is highly likely that those countries -- or trading blocs, as in the case of the EU -- who are negotiating in good faith, we will roll the day forward to continue good faith negotiations," Bessent stated. He further clarified that countries not participating in negotiations would not receive such considerations.

Despite the ongoing discussions, the US has only managed to finalize a formal trade agreement with the United Kingdom and a framework agreement with China. President Donald Trump, through his Truth Social platform, highlighted that under the current arrangements, the US is imposing tariffs of 55% while China faces 10%.

The Trump administration remains committed to securing bilateral trade deals, using the threat of tariffs as a strategic tool to encourage reluctant partners to engage in negotiations.