Tariffs live updates: Bessent says tariffs may return to 'reciprocal' levels if deals aren't made

Bessent: US targets 18 partners; tariffs may return to reciprocal rates

CNN reports:

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Bessent calls Walmart's warning of tariff-related price increases a 'worst-case scenario'

After President Donald Trump on Saturday told Walmart it should "eat the tariffs" rather than raise prices, Treasury Secretary Scott Bessent made the rounds on the Sunday morning talk shows to downplay inflation risks from the administration's tariffs. Bessent said he spoke to Walmart CEO Doug McMillon on Saturday, the Associated Press reported, adding that the retailer's warning of looming price increases were just a "worst case scenario."