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flag Treasury Secretary Mnuchin reassures businesses on short-term "snapback tariffs" threat by Trump.

flag U.S. Treasury Secretary Steven Mnuchin tried to reassure American businesses about potential tariff hikes, saying any "snapback tariffs" imposed by President Trump could be short-lived if countries negotiate in good faith. flag Trump threatened to impose a 15% to 20% tariff on countries without a trade deal by Friday, which has worried businesses since April. flag Despite Mnuchin's reassurances, companies are struggling with adapting to these changes and are concerned about passing on costs to consumers.

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