U.S. will reinstate tariffs on uncooperative nations

U.S. Treasury Secretary Scott Bessent announced Sunday that the U.S. will reinstate tariffs on countries not negotiating trade deals in good faith. These nations will be notified of the specific rates. Bessent stated that the U.S. is focused on 18 key trading partners, with tariffs potentially reverting to those announced April 2nd. He also mentioned the possibility of more regional trade agreements, indicating a flexible negotiation strategy. This announcement follows Moody's downgrade of U.S. debt, which Bessent dismissed as a "lagging indicator." He also noted that Walmart will absorb some tariff costs to avoid price increases.