On May 18 local time, US Treasury Secretary Basset issued a stern warning, indicating that if countries do not "negotiate in good faith", the United States will restore the tariff level announced by Trump on April 2.

Bessent said on CNN's interview program on the 18th that US President Trump has warned 18 key trading partners that if they are not sincere in negotiating, the tariff rate will return to the level of April 2 after the "90-day moratorium on tariffs" period.

Given that the 90-day moratorium on tariffs is approaching, Bessent said that the United States is currently focused on reaching agreements with 18 "important" trading partners. As for the remaining countries and regions, they may be subject to unified taxation based on large regional divisions.

It is reported that countries will receive letters clearly stating the extremely high tariff rates they will face if they do not negotiate seriously. However, it was not disclosed when the tariffs would be restored to the "equivalent" rate.

On May 16th before this, US President Trump had said that within the next two to three weeks, the United States might unilaterally set new tariff rates on many trading partners. Trump said that the United States lacks the ability to reach agreements through negotiations with all trading partners.

Trump: "Although '150 countries' hope to reach an agreement, it is impossible to meet with all of them." I think we will offer a fair tax rate. It's impossible to meet and negotiate with so many countries.

Looking back, on April 2nd, Trump announced the imposition of a 10% basic tariff on nearly all imported goods and the addition of "equivalent tariffs" to dozens of trading partners, which once caused severe turmoil in the global financial market. After that, Trump announced a 90-day suspension of the implementation of high "reciprocal tariffs", but the 10% basic tariff remained in effect.

Recently, as China and the United States hit the 90-day "pause button" on tariffs, a "rush to ship" phenomenon has emerged on the US route. Many shippers have stocked up in advance and are demanding prompt delivery. The imbalance between supply and demand will also lead to a sharp increase in US freight rates in the short term.

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