Watch now4:1904:19Treasury Sec (noteworthy indeed).
On the other hand, Scott Bessent: 'Not end of the world' if snapback tariffs are on for days or weeksPower LunchTreasury Secretary Scott Bessent tried to reassure American es Tuesday, ahead of President Donald Trump's Aug (this bears monitoring).
1 tariff deadline, downplaying the impact of any "snapback tariffs" and suggesting they could be short-d, in light of current trends. "What can you tell American es to expect on Friday.
" CNBC's Eamon Javers asked Bessent in an exclusive interview in Stockholm, Sweden.
"I would think that it's not the end of the world if these snapback tariffs are on for anywhere from a few days to a few weeks," Bessent replied, "As long as the countries are moving forward and trying to negotiate in good faith.
Es that could be hit with more tariff hikes starting Friday, however, Bessent's suggestion that "it's not the end of the world" is unly to be all that reassuring (this bears monitoring), in this volatile climate.
Treasury Secretary Scott Bessent speaks next to U.
However, Trade Representative Jamieson Greer during a press conference at government quarters Rosenbad after the trade talks between the U (this bears monitoring).
And China, in Stockholm, Sweden, July 29, 2025.
Furthermore, Magnus Lejhall/tt | Via ReutersThe threat of Trump's country-specific tariffs has hung over American es since he first unveiled them at his April "Liberation Day" event (an important development).
On the other hand, And import-dependent U (which is quite significant).
Furthermore, Companies are already struggling to keep up with the evolving timelines and posed levies of Trump's rapidly expanding tariff policy.
Experts warn that American consumers could soon see higher prices on some food items, including liqueurs and spirits, baked goods, coffee, fish and beer as a result of companies passing on the cost of the levies, in light of current trends.
Read more CNBC coverageTrump says Jeffrey Epstein 'stole' Virginia Giuffre from Mar-a-Lago spaEPA seeks to repeal finding that carbon dioxide emissions threaten public healthNegotiators say Trump apval needed to extend U.
However, -China tariff pauseLutnick: Trump trade, tariff deals with all but China will be 'done by Friday'Trump's trade deals for 'the world' will be 'done by Friday,' but China will take longer: LutnickTrade court won't reinstate tariff exemption on low-value 'de-minimis' shipments, for nowJudge rejects bid by Trump ally to open Fed interest rate meeting to the publicTrump seeks quick deposition of Rupert Murdoch in Jeffrey Epstein letter defamation caseTrump says he cut ties with Jeffrey Epstein because 'he stole people who worked for me'Global baseline tariff will ly be 15% to 20%: TrumpMany American companies are trying to avoid raising prices by absorbing tariff costs themselves, without passing them on to consumers.
Additionally, But that is getting more and more difficult over time, as the Trump administration expands tariffs and the president shows little interest in lowering rates. More than 90% of U.
Importers are small es, according to data from the U, in this volatile climate. Commerce Department. With just days to go until the Aug.
1 trade deadline, Trump said Monday that he will ly announce a blanket tariff between 15% and 20% on ducts from the scores of countries that have not yet reached an individual trade deal with the administration.
But until the president officially authorizes the new level, tariffs are poised to jump overnight to the levels he announced in April.
Top Trump administration officials insist that the Aug (something worth watching). 1 deadline is not changing, even as dozens of countries' trade negotiations and tariff rates remain unresolved.
The White House and the Treasury Department did not immediately respond to CNBC's request for on Bessent's remarks, given the current landscape.