Reciprocal tariffs can be avoided if unfair trade practices stop: U.S. Treasury Dept.

According to U.S Treasury Secretary Scott Bessent, some reciprocal tariffs may be avoided under a pre-negotiated deal, or negotiations after April 2nd.

Lee Seung-jae reports.

U.S. President Donald Trump said he would be announcing a detailed plan on the reciprocal tariffs on U.S. imports by April 2nd.

With the deadline looming, the Trump administration is showing some flexibility with its tariff policies.

Speaking to Fox News on Tuesday, U.S. Treasury Secretary Scott Bessent expressed optimism that come April 2nd, "some of the tariffs" may not go into effect if a deal is pre-negotiated or if countries look to negotiate after April 2nd.

Emphasizing that the U.S. is only in pursuit of "fair and reciprocal" trade, Bessent said that countries that stop trade practices that the U.S. deems unfair could avoid reciprocal tariffs.

Such practices include, non-tariff barriers, currency manipulation, unfair funding and labor suppression.

Meanwhile, Bessent said that come April 2nd, each country will receive a specific reciprocal tariff number deemed fair by the U.S.

He added that the tariff calculation would be determined by the U.S. Trade Representative and the U.S. Commerce Department.

The U.S. treasury secretary said that he has not seen any figures yet, as they are still being calculated.

While Bessent believes reciprocal tariffs could lead to a "win-win" situation for everyone,.. they have raised concerns here in South Korea, with trade officials keen to avoid new U.S. tariffs.

Seoul fears that with South Korea's trade surplus with the U.S. reaching over 55 billion U.S. dollars last year, it could be a major target for the Trump administration.

Lee Seung-jae, Arirang News.