Trump announced return of tariffs on countries with which the US does not reach an agreement

(Patria) - US President Donald Trump said yesterday that he could re-impose reciprocal tariffs on countries with which no agreement has been reached within two or three weeks.

This would lead to a renewed escalation of the global trade war that threatens a US, as well as a global recession, writes CNN.

- In the end, I think we will have great deals, and if there is no deal with a company or a country, we will set the tariff.

I would say within the next few weeks, right? I think so. Within the next two to three weeks. We will determine the number - said Trump.

On April 9, Trump paused the announced huge so-called reciprocal tariffs, which are technically not reciprocal at all.

He postponed them for 90 days to allow countries to negotiate with the White House - although he initially said that tariffs would not be negotiated.

Trump's officials said that about 90 to 100 countries called to reach an agreement on tariffs, so negotiators are under great time pressure to succeed in completing the job within the deadline.

If agreements are not reached, Trump could impose tariffs increased by up to 50 percent on countries - except for China, on which the Trump administration imposed an astronomical 145 percent tariff.

It is unclear what the tariffs will be for countries that do not reach an agreement with the US in the coming weeks - and whether these new tariffs will permanently replace the paused reciprocal tariffs or will only serve as temporary ones while negotiations continue.

Meanwhile, the US has maintained a universal tariff of 10 percent on almost all goods imported into America, with certain goods having an additional rate.

Trump's tariffs have led to great uncertainty for companies and consumers. The market has been shaken, leading to a decline in the value of stocks and assets in the US.

Despite the market recovery that followed, the market is still down seven trillion dollars since reaching a record high in mid-February.

Major financial organizations have warned that global economic growth could slow down as Trump's tariffs threaten to disrupt normal flows of global trade and money around the world.