Australia appears to have avoided further tariff increases as the United States warns trading nations a 90-day freeze on “Liberation Day” hikes announced in April is set to expire on Wednesday.

On April 2 US president Donald Trump announced a universal 10 percent base tariff rate and additional amounts for many countries, some as high as 50 percent.

Australia was subjected to the universal 10 per cent impost, with Australian steel and aluminium additionally slapped with duties of up to 50 percent.

Soon after the announcement all but the 10 percent base rate were subsequently suspended for 90 days to allow more time for negotiations for trading partners to finalise trade deals with the US.

US Treasury Secretary Scott Bessent told media letters have now been sent to about 100 countries around the world threatening that they will return to Liberation Day levels unless better deal are negotiated before the deadline expires.

The US is warning trading partners that if deals are not done before August 1 they will “boomerang back” to their April 2nd tariff level, and possibly to higher tariffs of up to 70 percent in some cases.

Only the UK and Vietnam have so far reached trade deals in the 90-day pause, but neither have had tariffs removed altogether.

The Trump administration has previously told the Albanese government it would not receive a letter imposing a steeper rate on Australia.